Cazoo has sold its third party data platform Cazana to Percayso for an undisclosed sum.
The disposal aligns with Cazoo’s strategy to focus on its core UK online sales business as as opposed to providing data services to third parties.
The agreement includes the sale of the Cazana brand, platform and commercial contracts.
Cazoo said it will continue to benefit from the expertise gained from acquiring Cazana in 2021.
Originally founded in 2012, Cazana grew to become one of the leading data insight platforms in the European automotive industry and was acquired by Cazoo in 2021.
Cazoo acquired Cazana for £25m cash in late 2021. Cazana’s products include real-time vehicle valuation, pricing and stock management tools.
“Cazana have been our motor data partner of choice since we launched our insight as a service offering to the UK insurance market back in 2019 and their data tools are relied upon by some of the biggest names in insurance,” said Percayso’s Managing Director, Rich Tomlinson.
““When the opportunity arose to bring those services under the Percayso banner, we saw it as one that we had to take.
“Cazana’s unrivalled database provides motor insurers with a one-stop-shop, enabling them to truly understand the risk factor of a vehicle including its likelihood to be involved in a claim. Combining that data with our own unique insurance intelligence services will enable insurers to determine potential fraudulent activity, identify if a risk is right for their business, swiftly respond to changing market conditions and ultimately write better business.”