If you’re wondering who bought Drover and what happened to one of UK’s first car subscription companies, wonder no more – this article covers the acquisition.
Drover was founded in 2016 and it quickly revolutionised the car market. Felix Leuschner and Matt Varughese created the “Netflix for cars” and their team quickly grew to over 100 across London, Lisbon, Paris and Bucharest.
Their ‘pre-seed’ investment was worth £2m which was followed by a Series A funding worth £5.5m. This set them on a path to success!
Drover’s strength lied in a the great platform, substantial user base and existing partnerships with dealerships. These valuable connections allowed them to expand their car inventory without actually having to own the cars.
Drover’s success was quickly recognised and Cazoo acquired the company in December 2020 for an undisclosed sum. Drover continued to operate independently until the summer of 2021.
The deal will combine Cazoo’s brand, platform and significant funding with Drover’s expertise and relationships in car subscription and, once integrated, will enable Cazoo to give its customers the option of purchasing, financing or subscribing to the thousands of cars on its platform.
As of December 2021, Cazoo has more than 430 cars available on subscription. You can be sure to find one that’s right for you. While you’re here, you should check out our guide on the cheapest cars on subscription.
Alex Chesterman OBE, Founder & CEO of Cazoo said:
“The acquisition of Drover will enable Cazoo to rapidly expand into car subscriptions and give our customers the option of purchasing their next car outright, financing it over a multi-year period or subscribing for a shorter, more flexible period.”
Felix Leuschner, Founder & CEO of Drover said:
“I am very proud of what we have achieved with Drover in such short time. We have built a great team and developed a sizeable and loyal subscriber base with strong revenues. Alex and the team at Cazoo have a very clear strategy and vision and I am very much looking forward to accelerating the growth of car subscriptions as part of Cazoo and to continuing to develop the business beyond the UK.”
Plus, Cazoo recently opened their 21st customer centre in Newcastle which is further evidence of their ongoing success. They’re planning to keep expanding their online car buying and selling services in the UK with a dozen more customer centres planned to open next year.
Not long after that, in early December 2021, Cazoo officially entered France and Germany with their main car-buying proposition. Whether they will offer car subscriptions in these countries too, or acquire existing platforms like Cluno, is yet to be seen!
Drover users benefitted from one, all-inclusive monthly payment which usually covered the car payment, insurance, tax, mot and maintenance. The way Drover made money was to add their commission on top of that payment.
Naturally, when such company acquisitions happen, existing users would want to know what happens to their car subscription contracts and personal details. The latter is covered here, but we've also listed some of the commonly asked questions below:
Existing customers won’t notice any change to their subscription. Once they decide to renew and update their contract, they will continue with a new contract with Cazoo.
Yes. Cazoo migrated Drover’s user accounts so you can continue using the same account details.
You can contact Cazoo via email or phone.
You need to speak to Cazoo and they will let you renew your contract but this time it will be with them, rather than Drover.
If your car subscription content is ending and you want to buy a car instead, you just need to give us let us know don’t want to extend your subscription contract. You can then go ahead and buy a car using our usual process.
If you have your own insurance, there will be no changes. You should continue insuring your car for the duration of your subscription.
If you want to learn more about all subscription services in the UK, you check this page where we compare what each one offers.
But if you’re looking for a car on subscription, a good start will be to use our car tool which will help you narrow down your search.
Browse all cars available on subscription
There are hundreds of cars available via UK subscription companies.