Zuto motors on with Barclays

Zuto motors on with Barclays

Car finance specialist Zuto, one of the North West’s most disruptive tech startups, has secured a £2.5m funding package from Barclays to support the continued and rapid growth of the business.

Macclesfield-based Zuto (formerly Car Loan 4U until May 2015) is rated the UK’s leading online car finance specialist by Experian.

The business was established to make the car buying process easier (matching buyers with finance and then the right car) via an online platform.

Founded in 2006, the business has grown quickly now employing over 300 people and with new working capital facilities in place from Barclays this growth is set to continue.

Paul Ramsden, Zuto finance director, said: “We have developed a strong relationship with Barclays as we need a banking partner for the long-term, supportive of our business aims and ambitions.

"The team at Barclays shares our enthusiasm, understands our business and is keen to support our future growth plans as we expand both in the UK and abroad.”

In June 2015, Zuto became the first car finance company to be accredited by the Financial Conduct Authority.

Zuto was also ranked 7th in the Northern Tech Fastest Growing Companies 2015 and 18th in the Sunday Times best medium sized companies to work for 2016.

 

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