UK online tire fitting firm secures £1.5m investment

ERJ staff report (BC)

Richmond, Surrey, UK – Online mobile tire-fitting company Tyres On The Drive today announced the completion of a follow-on round of investment of £1.5m, led by venture capital firm MMC Ventures, reports Ryan Platt of Growing Business.

Launched in 2011 by former Michelin manager Dominic Clark, Tyres On The Drive offers a mobile tire fitting service at a location of the customer's choice.

The company has grown to more than 40 staff with a fleet of 21 vans across the north west and west midlands regions of England. It plans to double its workforce by the end of 2013.

The £1.5m (€1.9m)investment marks the final stage of a wider round of funding to support expansion across the rest of the UK for the firm, and launch a new e-commerce website and mobile offering.

The deal brings the total investment this round to more than £2.6m (€3.1m), which included funding from the founders.

Clark said: “It’s a very busy and exciting time; we are on the cusp of a major expansion. Feedback on our service to date has been fantastic, which is testament that we are raising the industry bar very high for value, service and convenience.

This is an external link and should open in a new window. If the window does not appear, please check your pop-up blocking software. ERJ is not responsible for the content of external sites.

Full story from Growing Business