An AI start-up has completed and surpassed its 拢1m crowd-fundraise on Crowdcube.
Cazana.com uses big data and predictive analytics, the company analyses millions of automotive transactions daily to assess the value and risk associated with every vehicle on the road.
Its systems are used by manufacturers, finance companies, dealerships and insurers globally.
The raise has reached 拢1,073,530, 107 per cent of its goal, at the time of writing
The London-based start-up, founded in 2013, will use the funding to support global expansion and monetisation of Cazana鈥檚 B2B sales.
It will also be used to develop Cazana鈥檚 suite of services, including the newly acquired Car & Classic website.
The company鈥檚 last venture funding round reached 拢2.3m, bringing the total raised by the company to $4.7 million.
鈥淭his is a time of revolution in the car industry and we鈥檙e incredibly excited about this funding round and what it means for Cazana and our customers,鈥� said Tom Woods, CEO of Cazana.
鈥淥ur acquisition of Car & Classic last year massively increased our reach and the services we provide to consumers and businesses.
鈥淭he classic car market is a very lucrative sector of the automotive industry, with 拢25.4 billion worth of classic cars transacted annually worldwide.
鈥淲ith this raise, we will accelerate our plans to secure a stronger foothold in US markets and well as investing in our consumer facing platforms.
鈥淚t鈥檚 fantastic to have such an esteemed group of investor participating in this round and we look forward to our customers and motoring sector experts joining their ranks as part of this crowdfunding.鈥�