MMC and Enterprise Ventures back Tyres on the Drive
MMC Ventures and Enterprise Ventures have provided £640,000 of follow-on funding for Tyres on the Drive.
The new capital will be used to expand Tyres on the Drive's business from the UK north-west and West Midlands into Yorkshire and across the Midlands. The company will launch new depots in Wakefield and Birmingham.
Tyres on the Drive has previously received £340,000 of investment from the North West Fund for Venture Capital, managed by Enterprise Ventures.
Company
Tyres on the Drive allows customers to book online and have tyres fitted at a location of their choice.
The Holmes Chapel-based business was founded in 2011 and today employs 18 staff. The business expects to turn over £6m in the current financial year.
People
Investment manager Paul Betts handled the deal for Enterprise, while investment director Rory Stirling represented MMC. Dominic Clark is founder and managing director of Tyres on the Drive.
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