ClickMechanic, the UK-based startup which is something like an ‘Uber for car mechanics,’ has closed a financing round of GBP 320,000 from angel investors led by former Just Eat CEO Klaus Nyengaard.
Founded by Andrew Jarvis and Felix Kenton, the startup is a market place for car mechanics that allows one to easily and transparently book a mobile mechanic after getting quotes online. The company has licenced millions of industry standard manufacturer labour times to build an instant, real-time online quoting engine empowering user to know how much they should be paying and make certain that they are not getting ripped off.
The new fund of GBP320,000 will be added to GBP 100,000 that the young startup and by-product of Entrepreneur First had previously raised from other investors including former Diector of AutoTrader, James Bromley and Imperial Innovations. The latter is the VC arm of Imperial College, the London university where Kenton earned his Masters in Information Systems Engineering. The new investment will be used to boost the company’s growth, make new hires and accelerate product innovation.
Klaus Nyengard, former CEO of Just Eat and current chairman of Wahanda, said “I work a lot with marketplaces and I was immediately impressed with the smatness of how the ClickMechanic works. They are a young team with lots of drives and a new way of matching supply and demand in the mechanics industry. Exactly the kind of ambitious project I like to work with.”
“The UK repair industry has an abundance of repair data and thousands of great mobile mechanics; we saw ClickMechanic as the best way of bringing the mechanics together in one trusted network while using data to further bring trust to users on the prices they pay,” said Jervis. Apart from the booking system, the company has built an automatic quoting system to help its users know if they are bring given a competitive price. This uses data licensed from manufacturers.
Jervis claims, “The company has licensed millions of industry standard manufacutrer labour times to build an instant, real-time online quoting engine, the first of its kind in Europe, empowering users to know how much they should really be paying and ensure they are not getting ripped off.” He also adds, “No other automotive repair market places have this feature, with most instead offering a bid-for-jobs model.”
The company generates revenue by taking 20% commision from any job that is booked via its platform. Ever since its launch in 2012, the company has 150,000 car service and repair quotes have been sourced through the site. Since 2014, the company’s growth has been between 20% to 40% month-on-month. The startup’s recent investment is three times more than the initial investment of GBP 90,000.