£7m funding for Manchester tech firm Zuto
A £7 million funding round at car finance marketplace Zuto will power additional growth at the North West firm.
Zuto said the investment will allow it to “aggressively grow” its technology team in Manchester and add more customer experience roles at its contact centre in Macclesfield.
The funding, from existing investors Scottish Equity Partners and Columbia Lake Partners, will also allow Zuto to invest further in technology and enhance customer experience.
"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," said CEO James Wilkinson.
"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."
Former Simply Business COO and co-founder Chris Slater has also joined the company’s board.
"Chris brings with him experience in growing and transforming digital businesses and pioneering the use of data and technology," added Wilkinson.