£7M Funding To Drive Zuto's Growth

31 July 2019

Macclesfield-based car finance marketplace Zuto has been backed to the tune of £7m to fuel additional growth and invest in its technology. Zuto currently employs more than 300 staff in its Macclesfield and Manchester offices

Macclesfield-based car finance marketplace Zuto has been backed to the tune of £7m to fuel additional growth and invest in its technology.

Zuto currently employs more than 300 staff in 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 latter and adding more customer experience roles at the former's contact centre.

The funding comes from existing investor Scottish Equity Partners (SEP), which has a strong track record in supporting high growth technology companies. Columbia Lake Partners has also invested alongside SEP.

Elsewhere, Zuto has appointed Chris Slater – the co-founder and former chief operating officer of Simply Business – to its board.

Chief executive James Wilkinson said: "I'm delighted to welcome Chris Slater to the board. He 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."

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