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Cazoo acquires SMH Fleet Solutions for £70m
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Cazoo Carlisle customer centre first of seven new network additions
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Riverside Motor Group acquires Harratts Honda dealership in Wakefield
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Cinch has attracted £1 billion in new investment to continue its push to online car retail growth alongside the likes of start-up rivals Cazoo and Carzam.
The Abu Dhabi and Singapore sovereign wealth funds had teamed up with billionaire George Soros to back the business, which is owned by WeBuyAnyCar and BCA Marketplace owner, Constellation Group.
The result is double the £500m funding target Constellation Group had previously hoped to achieve, reports suggest.
This morning (May 21), The Evening Standard described the £1bn investment as “one of the biggest ever private fundraisers by a UK company” and highlighted that it had followed Cazoo’s earlier announcement of a £5bn public offer on the New York Stock Exchange that had left investors “agog”.