Carmoola joins Zuto marketplace in bid to reach more car buyers

Car fintech Carmoola has joined Zuto’s marketplace of lenders in a bid to connect with a broader audience through multiple channels.

The integration will allow car buyers to access Carmoola’s finance approval, instant tap-or-transfer payment methods and in-app loan management online, via email or over the phone through the Zuto platform.

Both companies underwent a thorough integration process to ensure a seamless customer experience and secure data flow to provide a smooth, transparent journey for purchasing used cars with finance.

“Our focus has always been to make car finance as user-friendly and hassle-free as possible, putting control back into the hands of the customer,” said Aidan Rushby, CEO and founder of Carmoola.

“We chose to work with Zuto because they share our industry outlook and tech-first approach, supported by a commitment to exceptional customer service. We’ve already facilitated the purchase of over £50 million worth of cars, and this partnership will enable us to help even more people find and finance their dream vehicles.”

Joanne Robinson, director of lenders at Zuto, said: “This partnership is a natural fit, as both companies are dedicated to bringing fairness and transparency to the car buying journey. Our product and tech teams have worked hard to develop an integration that ensures data flows seamlessly between the two systems while maintaining the quick response times our customers expect.”

Carmoola, which launched in March 2022, offers an app-based application process for fast finance approval tailored to individual needs. Recently, the company secured a £15.5 million investment to expand access to its products.

Zuto’s marketplace offers access to 20 lenders, and through proprietary technology provides quick decisions and clarity around finance approval and available APRs.

Additionally, Zuto’s car buying experts can communicate with customers through their preferred channels, whether online, by phone, or via email and can help customers find vehicles and explore financing options.