Drover started in 2015 by Felix Leuschner and Matt Varughese. Their concept was simple, they wanted to offer a subscription product based on cars. An all-inclusive solution covering the vehicle, maintenance, tax and insurance.
In March 2018, Drover Limited received funding of £5.5 million from a wide range of investors including BP Ventures, Partech Ventures and Cherry Ventures, this was on top of a previous investment of £2 million.
The concept of the car subscription wasn’t a new idea, but Drover managed to put everything into an easy concept through its website and advertising. Drover did not own any of its vehicles, instead utilising vehicle suppliers and manufacturers such as BMW and MINI to provide vehicles for their platform and Drover applied a markup.
Cazoo Acquires Drover
In December 2020, Cazoo, the online used car platform acquired Drover for an undisclosed sum (Updated Below). This gave Cazoo the platform to allow consumers to not only purchase and finance one of their available cars but also to subscribe to it if required.
How much did Cazoo pay for Drover?
Recent reports in the press state that Cazoo paid £65m to acquire Drover, they also purchased Cluno (Germany) for £60m, Swipcar (Spain) for £24m.
How many subscribers does Cazoo have?
In a recent annual report by Cazoo, they claim to have 10,000 subscribers paying between £329 and £1229 per month for a vehicle subscription.
Find out more information about Cazoo’s Car Subscriptions on our website and compare against other vehicle subscription providers easily and in one place.