Press Release

General Catalyst Co-Leads Cazoo’s £240 Million Equity Funding Round

Values UK’s fastest startup to reach unicorn status at more than £2 billion
October 6, 2020

London – October 6, 2020 – Cooley advised General Catalyst Venture Partners as a lead investor in Cazoo’s £240 million equity funding round, which brings the UK-based used car sales platform’s value to more than £2 billion – more than double its valuation at its previous funding round earlier this year, which made it the UK’s fastest startup to reach a valuation of more than £1 billion. Cooley partner Aaron Archer led the team advising General Catalyst. 

The round also included participation from D1 Capital Partners, funds managed by Fidelity and Blackrock and other new and existing investors. Cazoo will use the new capital to grow its team, brand and infrastructure and to continue making car buying better for all UK consumers. 

Founded by Alex Chesterman, Cazoo is pioneering the shift to online car buying in the UK and is selling and delivering thousands of cars a month to customers all around the country. It has already achieved revenues of more than £100 million since its launch less than a year ago. 

“I have known Alex for seventeen years, since our days building LoveFilm,” Adam Valkin, managing director of General Catalyst, said in a news release. “He has made a career out of identifying large consumer markets where technology can drive change and then leading that transformation by focusing on the customer and delivering value, convenience and a trusted service. With Cazoo, Alex is taking his proven playbook to perhaps his largest opportunity yet for the benefit of used car buyers across the UK.”

Founded in 2000, General Catalyst is a venture capital firm that makes early stage and transformational investments. The firm backs exceptional entrepreneurs who are building innovative technology companies and market-leading businesses. General Catalyst has offices in Cambridge, Massachusetts, Palo Alto, California and New York City.

About Cooley LLP

Clients partner with Cooley on transformative deals, complex IP and regulatory matters, and high-stakes litigation, where innovation meets the law. 

Cooley has 1,100+ lawyers across 16 offices in the United States, Asia and Europe.


This content is provided for general informational purposes only, and your access or use of the content does not create an attorney-client relationship between you or your organization and Cooley LLP, Cooley (UK) LLP, or any other affiliated practice or entity (collectively referred to as “Cooley”). By accessing this content, you agree that the information provided does not constitute legal or other professional advice. This content is not a substitute for obtaining legal advice from a qualified attorney licensed in your jurisdiction and you should not act or refrain from acting based on this content. This content may be changed without notice. It is not guaranteed to be complete, correct or up to date, and it may not reflect the most current legal developments. Prior results do not guarantee a similar outcome. Do not send any confidential information to Cooley, as we do not have any duty to keep any information you provide to us confidential. This content may be considered Attorney Advertising and is subject to our legal notices.