Mobile tyre fitting company TyresOnTheDrive.com bags £8m
Investment will see tyre fitting company work together with Halfords on improving their customer offer
TyresOnTheDrive.com, a mobile tyre fitting company, has closed an £8m funding round from Halfords, as well as MMC Ventures and True Capital.
Founded in 2011 by Dominic Clark, two-time Startups 100-featured TyresOnTheDrive.com enables customers to have tyres fitted at home or work by a professional seven days a week.
The investment comes with an operating agreement between Halfords and TyresOnTheDrive that will see the two companies work together on a number of initiatives that will enhance the variety of services available to customers.
TyresOnTheDrive claims to currently have access to 85% of the UK population, with plans to expand across the country underway.
Robert Gorrie, TyresOnTheDrive chairman, commented: “This is a very exciting opportunity for both Halfords and TyresOnTheDrive.com. It is a significant endorsement of the business we are building at TyresOnTheDrive.com.
“Our disruptive, nimble, online and mobile fitting focused tyre business can benefit from and also provide benefit to Halfords in ways that will deliver considerable customer benefit for both businesses.”
Jill McDonald, Halfords chief executive, added: “We know that convenience and “do it for me” are increasingly important trends for our customers and this arrangement provides an excellent opportunity for us to explore the extension of our customer offer.”