Edinburgh mobile car care tech firm eyes ambitious growth plan after £500,000 cash injection
A mobile car care and bodywork repairs startup from Edinburgh has secured a £500,000 investment to expand its offer across the UK.
Fresh Car, which is based on a franchisee model, will use a cash injection led by Foresight Group to boost coverage across the country and in Ireland by the end of the year.
The tech startup, founded by Sam Brennan from the back of his father’s car in 2015, wants to have 100 franchisees in place as it scales up amid growing demand for home car services.
Its ’smart repair’ offer includes valeting, car detailing, paint retouching and spraying and minor exterior repairs.
Following the funding round, Foresight Group Investment Director Graeme McKinstry has joined the Fresh Car’s board.
Fresh upped headcount to 14 this year, now has 75 franchisees, including in Northern Ireland and the Republic of Ireland, and is targeting a big upswing in franchisees in London and the South East of England over the next twelve months.
In a UK market with around 31 million car owners valued at over £1.22bn, CEO Brennan is aiming for Fresh’s site and app to deliver a highly professional car care service that he says is “revolutionising the way people manage their car care.”
Having grown monthly platform revenue significantly since the beginning of the year, Brennan sees scope for a further increase over the coming months.
He said: “We are demonstrating that there is a new way for people to manage their car care, from cleaning and basic car care, right through to maintenance and repairs. So, the ‘SMART repair’ service we are trialling locally in Edinburgh is something we fully expect to roll-out UK-wide in 2023. Front and centre, we remain absolutely committed to customer service through our franchise network.”
Brennan added: “We’re excited to have both the backing of Foresight, and Graeme’s dedicated support and advice as the newest addition to our board.”
Graeme McKinstry, investment director at Foresight, said: “We are delighted to invest alongside the experienced angel investors, backing Sam and the Fresh Car team for their next stage of growth. The team is targeting a significant market opportunity and has built a scaleable technology platform, enabling the business to grow quickly with recent new franchise launches across the UK and Ireland.”
Looking ahead to 2023, CEO Brennan says the company is planning to grow its B2B offering by meeting demand for valeting and repairs, and is also likely to ramp up its service offering for the electric vehicles sector.
There are approximately 31 million car owners in the UK, with a car care market valued at over £1.22bn.