Online tyre-fitting firm Tyres On The Drive secures £1.5m MMC Ventures-led investment
Backing will support nationwide expansion for fast-growing firm
Online mobile tyre-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.
Launched in 2011 by former Michelin manager Dominic Clark, Tyres On The Drive claims to offer its customers a mobile tyre-fitting service for their vehicles at a location of their choice.
Since launch the company has grown to more than 40 staff with a fleet of 21 vans across the North West and West Midlands regions and is on course to double its workforce by the end of the year.
The £1.5m investment, which also included backing from EV Group, 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, which included 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.”