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The online car retailer Cazoo, fresh from its listing on the New York stock exchange and acquisition of Cazana, has now purchased SMH Fleet Solutions for £70m cash. SMH Fleet Solutions processes 70,000 vehicle refurbishments each year in the U.K.
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The preferred dealer chosen by the customer at the beginning of the sales process receives the same commission and bonus as in showroom business, even if the vehicle is purchased online direct from Volkswagen.
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This investment round brings Vroom’s total capital raised to $721 million.
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