Robert Diamond, the former managing director of Motoring Services at the RAC, has become the latest automotive expert to lend financial backing to used vehicle database Cazana.
The investment, which has come through Diamond’s Venture Capitalist organisation Fernbrook Partners, follows the recent arrival of ex Glass’ man Rupert Pontin and is part of a wider £1.75m boost for the business.
Robert Diamond is best known in the motor trade for the prominent role he played in the acquisition, turnaround and successful sale of RAC between 2011-2017. In his executive role as managing director of Motoring Services, he oversaw RAC’s database of 8.2 million members, in addition to running six other businesses.
Today, he is the founder of Fernbrook Partners, which oversees a private portfolio covering early-stage retail technology and lifestyle investments; commercial property acquisition, development and leasing, as well as several businesses relating to classic cars.
Rupert Pontin, director of valuations at Cazana, said of the support: “It’s great to have the backing of Robert Diamond, who is a highly respected name in the motor trade. He brings a wealth of knowledge relating to the management and analysis of data and his support will enable us to help more businesses understand vehicles better and improve our platform for consumers.”
Cazana is one of the largest car search and indexing engine for used cars on sale in the UK. Cazana also provides data to manufacturers, finance and leasing companies to help them better understand residual value risk and the changing prices of vehicles. Cazana currently provides car checks to users with information about a car that they are searching for.