Car finance marketplace Zuto enjoyed record revenue growth in October, bucking the traditional seasonal downturn.
The Manchester-based FinTech celebrated 40% year-on-year revenue growth at the start of Q4 despite the challenging economic conditions.
The company saw an uplift in market share of 7% in the 12 months to September 2022, with the amount of customers driving cars financed through Zuto up by 14%. This growth outperformed the used car market as a whole, which grew by 6% in the same period.
Zuto says its strong performance has been driven by improving the customer experience and integrating more lenders and products into the platform.
2022 also marked the year Zuto achieved B Corp certification and a number of industry accolades, including featuring in the Tech Nation Future 50.
“We are seeing incredibly strong trading performance, despite a challenging macroeconomic environment,” said James Wilkinson, CEO.
“Seasonally, the used car market typically experiences a slight downturn from October so we are delighted to be bucking the trend, particularly when there are so many other external factors at play.
“Beyond the numbers, we remain focused on changing our industry for the better while proving it is possible to combine profit with purpose. We’re doing that by providing transparency to customers and making sure our people have the best possible experience at work.”