Tyres On The Drive secures £1.5 million investment
On 11 September Tyres On The Drive announced it had received £1.5 million of investment in a follow-on round of funding led by venture capital firm MMC Ventures. Launched in 2011 by former Michelin manager Dominic Clark, Tyres On The Drive offers its customers a mobile tyre-fitting service. Since the company’s launch it has grown to more than 40 staff with a fleet of 21 vans across the North West and West Midlands regions and is reportedly on course to double its workforce by the end of the year.
The £1.5 million investment, which also included backing from EV Group, is said to mark 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. Total investment in the company now comes in at £2.6 million, which includes funding from the founders.
Dominic Clark, co-founder and chief executive of Tyres On The Drive, 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.
“Our outstanding customer feedback has placed us first for customer service in the UK on Trustpilot and we aim to continue to set new standards within the industry.”