Bringing Business To Life The Coalfields Funds

Further £1.5m for Tyres on the Drive, the online mobile tyre-fitting service, has secured a £1.5 million investment to support its nationwide expansion.

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.

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. Enterprise Ventures, spotted the potential of the business and through the North West Venture Fund ( which it also manages) became its first external investor. Since then, MMC Ventures has also invested in the business and, together with investment from the Coalfields Funds, two further rounds of funding have been completed, bringing the total now invested in the business to over £2.6 million.

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.

Dominic Clark, Tyres on the Drive CEO, 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 with in the industry.”

Paul Taberner, Investment Manager with Enterprise Ventures, said: “The investment will allow Tyres on the Drive to double its current fleet of specially designed tyre-fitting vans, and technicians. It will also allow a number of new technology projects to get underway, including a new online and mobile ecommerce website, as part of its policy of continually improving its systems.”

News Archive

Copyright © 2016 Coalfields Funds. All Right Reserved.

Linked In