Manchester-based car finance marketplace Zuto has secured £7 million of funding to fuel additional growth, invest further in technology and enhance customer experience.
The funding comes from existing investors Scottish Equity Partners (SEP) and technology investment specialists Columbia Lake Partners.
Zuto currently employs more than 300 people across its Macclesfield and Manchester City Centre offices and plans to “aggressively grow” the team. The recruitment drive will focus on expanding the technology team within the Manchester office, and adding more customer experience roles at the contact centre based in Macclesfield.
Zuto has also welcomed Chris Slater, the co-founder and former COO of fin-tech firm Simply Business, to its board.
James Wilkinson, CEO of Zuto said: ‘‘I’m delighted to welcome Chris Slater to the board. Chris brings with him experience in growing and transforming digital businesses and pioneering the use of data and technology.
“Our ambition is as big as ever and this latest funding round absolutely signifies this. Our future focus remains on bringing simplicity, trust and transparency to our customers and the UK car finance market.
“We are motivated by a desire to change the industry for the better, whilst building a progressive culture and I’m very proud of what the team has achieved so far. Our drive for fast growth is as strong as ever.”
