London-based ClickMechanic, the online marketplace for car repairs, has today announced the closure of a financing round of £320,000 from angel investors led by former Just Eat CEO Klaus Nyengaard.
The investment will be used to fuel ClickMechanic’s growth, make new hires and accelerate product innovation.
Since launching in 2012, ClickMechanic has been growing at a rate of 20-40% month on month with almost a thousand quotes generated through its unique price estimates tool so far. The investment is more than three times the £90,000 secured during the company’s first funding round.
Commenting on the investment, Klaus Nyengaard, former CEO of Just-Eat, current Chairman of Wahanda, and ClickMechanic Lead Angel said: “I work a lot with marketplaces, and I was immediately impressed with the smartness of how ClickMechanic works. They are a young team with lots of drive and a new way of matching supply and demand in the mechanics industry. Exactly the kind of ambitious project I like to work with.”
Part of the investment will be used to make key new hires including Peter Kerr, Former International Sales Manager of Just Eat, and Jake Mellett, Former Head of Search and Partnerships in Beauty Division at the Hut Group.
Andrew Jervis, Co-Founder of ClickMechanic added: “It’s well documented that the automotive repair industry suffers from a lack of transparency which has created a large amount of consumer mistrust. We’ve been working tirelessly over the past several years to bring vetted, qualified mechanics together in one network while using manufacturer-approved data to ensure users can trust the prices they pay. To be approached by some of Europe’s leading business leaders with funding shows we are leading the way at solving these problems for consumers.”
Angel investors from the second funding round include:
· Klaus Nyengaard – Former CEO of JustEat, Current Chariman of Wahanda, ClickMechanic Lead Angel
· Rasmus Wolff – Former CCO of JustEat
· Giorgio Ponticelli – Managing Director of New Markets at Wahanda
· Lopo Champalimaud – Founder and CEO of Wahanda
· Leigh Phillipson – Sales Director of Wahanda
· Simon Schnieders – Former Head of SEO at Zoopla
· Andy Wilson – Head of Growth at GetYourGuide
· Chris Wood – CCO of Wahanda
· Ian Hooper – Former Vice President of Seemless
Former angel investors from the first funding round include James Bromley, current COO of SwiftKey; Robin Carter, former FD of The Ministry of Justice; and Imperial Innovations, the venture arm of Imperial College.
