Robert Diamond, the former managing director of RAC, has joined Cazana as a board advisor to the business.
Diamond’s venture capitalist company Fernbrook Partners was part of a group of firms which invested £1.75m into Cazana in November.
The company said it has been using the investment to fund its growth plans and further build its relationship with leasing companies, fleets, OEMs and dealerships.
Diamond was managing director of RAC between 2011 and March this year, when he helped sell the company. At RAC, his role saw him oversee RAC’s database of 8.2m members, in addition to running six other businesses.
He founded Fernbrook back in 2011, which has since invested in companies as varied as burrito chain Chilango and online booking system Bookmygarage.com.
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.”
Pontin himself joined Cazana earlier this year, at a similar time to when it received its investment.