Cazoo has acquired Cluno, Germany’s leading consumer car subscription platform, for an undisclosed sum.
Founded in 2017, Cluno has grown to a team of over 100 based in Munich.
Cluno offers a flexiblealternative to car ownership, offering a choice of up to 100 makes and models, with a single monthly subscription fee which includes the car, maintenance, service, warranty, tax and insurance.
The deal combines Cazoo’s platform and funding with Cluno’s expertise and automotive relationships and, once integrated, will enable Cazoo to launch its full proposition in Germany and across Europe giving customers the option of purchasing, financing or subscribing to thousands of cars on its platform.
Having recently acquired Drover, the UK’s leading car subscription business, this deal cements Cazoo’s position as the leading player in the fast-growing Cars-as-a-Service (CaaS) market in Europe with thousands of active subscribers across the UK, Germany and France.
Alex Chesterman OBE, founder & CEO of Cazoo said: “Cluno has built a market-leading offering in the car subscription market in Germany with thousands of loyal customers and we are delighted to welcome Nico and his team to the Cazoo family. We will be launching the full Cazoo proposition in Europe later this year from our new European headquarters in Munich and we look forward to offering customers the option of purchasing, financing or subscribing to thousands of Cazoo cars.”
Nico Polleti, founder & CEO of Cluno added: “I am very proud of what we have created at Cluno in terms of both the customer experience and the team. The vision and strategy that Alex and his team have for developing the Cazoo brand and platform is totally aligned with ours and we are looking forward to joining forces and accelerating the digital transformation of the car buying experience across Europe.”