TyresOnTheDrive.com, the online mobile tyre-fitting service, has secured a further GBP1.5m investment, led by MMC Ventures and supported by EV Group, to support its nationwide expansion.
This latest round of funding brings the total investment, including funding from the founders, to over GBP2.6m.
Tyres on the Drive, which currently covers the North West and the West Midlands, is pushing ahead with plans to expand its operations into Yorkshire and across the South and London as quickly as possible. As a result of its rapid growth, the investment will be used to double its current fleet of specially designed tyre-fitting vans, and technicians, which bring a state of the art fitting workshops right to customers’ front doors. In addition, the additional funding will enable a number of new technology projects to get underway, including a new online and mobile ecommerce website with the sole aim of making replacement tyres as cheap and convenient as possible for customers.
The company, which allows customers to book online and have their tyres fitted at a location of their choice, was launched in 2011 by Dominic Clark, a former senior manager at Michelin. Tyres on the Drive now employs over 40 staff, operates a fleet of 21 vehicles and is on course to double its workforce and expand its UK coverage by the end of the year.
Clark says: “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.”
Rory Stirling, partner, MMC Ventures, says: "We saw the national potential of Tyres on the Drive right from the start and are really happy that this significant follow on investment will now allow the team to expand further across the UK. Working with the management team at TOTD has been a pleasure and we look forward to playing a part in the next exciting stage of the business.”
