Carzam raises £112m for ‘aggressive buying’
29 November 2021
An unnamed New York fund has invested £112m in used car retailer Carzam towards “aggressively buying” used cars. CEO Kirk O’Callaghan said Carzam’s industry expertise set it apart from rivals. “We know exactly what we need to do to drive the business forward… this funding gives us the firepower.”
Carzam aims to acquire, prepare, sell and deliver vehicles within 50 days, which O’Callaghan said is a faster turnaround than rivals.
The business is on track to sell more than 13,500 cars and turn over £150m in its first year.
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