Cazoo appoints CFO, becomes unicorn
Cazoo has appointed Stephen Morana as its Chief Financial Officer.
The online car retailer has also raised another £25m, in addition to the £100m it raised earlier this year, becoming one of the UK's fastest unicorns.
Morana has previously floated two leading UK digital businesses in recent years, Betfair and Zoopla, both achieving multi-billion-pound valuations.
He also sat on the board of online fashion giant Boohoo when it went public, now the highest valued AIM listed business and he is currently the senior independent director at FTSE 100 gambling giant GVC.
He begins the new role in mid-July and will join the board of directors and executive team, reporting directly to Founder & CEO, Alex Chesterman OBE.
Morana said: “What Cazoo has achieved in under a year is incredible and I’m really looking forward to joining the team. Selling thousands of cars and generating over £40m of revenues in just a few months since launch is exceptional.
“I have been lucky to work for some amazing businesses and wasn’t planning to take another full time role but, having worked with Alex before, I know that he is building a world-class operation with Cazoo that will transform the way people buy used cars in the UK by providing consumers with better selection, value and convenience. I can’t wait to get started.”
Alex Chesterman OBE, Founder & CEO of Cazoo added: “I am delighted to welcome Stephen to Cazoo and to be working with him again. His track record and experience are second to none and he will be a great addition to our team.
“There is nobody who has had greater exposure to some of the UK’s most successful digital businesses over the past decade and he will play a key role in helping to deliver on our ambition of creating the best car buying experience in the UK over the coming years.”