ClickMechanic, founded by entrepreneurial graduate, secures £320,000 in investment
11 May 2015
11 May 2015
A LUMS graduate, who launched a car repair website, has announced that his company has raised £320,000 in investment from angel investors led by former Just Eat CEO Klaus Nyengaard.
The website is an online marketplace for car repair, allowing users to book a vetted mechanic who will come to their home or workplace. It also has an automatic quoting system to help users know if they are being offered a competitive price.
Since its founding, ClickMechanic has been used more than 150,000 times for car service and repair quotes, and has seen rapid growth from early 2014.
The latest round of investment will be used to fuel the company’s growth, expand the team and accelerate product innovation.
Speaking about his time at Lancaster, he said: “Lancaster University Management School was the perfect environment to prepare me for starting a business.
"The teaching quality and facilities were first class. It gave enough flexibility to explore our own ideas, but most importantly my specific course gave me a mind-set that anything was possible.
“Often students feel they have to follow the standard course of graduating and climbing the corporate ladder but OWT was different. It gave me the perspective that there is no right or wrong way to do things, which helped me towards my goal of building a business.”
Klaus Nyengaard, the former CEO of Just Eat and current Chairman of Wahanda, 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.”
This latest investment comes after Andrew and Felix secured an initial investment of £90,000 in 2012.
Other angel investors include: