TyresOnTheDrive.com is a mobile tyre fitting service, disrupting the traditional sector of tyre retailing and fitting with an innovative approach that brings the expertise of the garage to a customer’s place of work or residence, alongside an effective eRetail solution to the customer shopping experience. Embracing the latest technologies, we aim to raise industry standards for the UK motorist, providing not only a convenient and exemplary service via fully equipped, state of the art mobile units but our effective online booking service offers a greater informed choice of product and of course a highly competitive pricing model. In just 3 simple steps, customers can: 1) Choose the most suitable product to suit their needs 2) Book their preferred fitting date, time and location 3) Have their tyres fitted by one of our trained, expert technicians prior to paying for the service. Needless to say, our approach is changing the way tyres are sold and fitted in the UK forever. With a strong management team and a Non-Exec Board including Founding Director Dominic Clark, Ric Clarke (CTO), Rory Stirling (Director of MMC), Robert Gorrie (Non-Exec Director of Ocado), Matt Truman (Founding Partner and CEO of True Capital) & Paul Cocker (Founding Partner of True Capital) business which after rapid expansion in 2015 now covers over 85% of the UK – bringing our low prices and exceptional customer service to as many people as possible.
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Type
Private
HQ
Holmes Chapel, GB
Founded
2011
Size (employees)
32 (est)-3%
Tyresonthedrive was founded in 2011 and is headquartered in Holmes Chapel, GB
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Tyresonthedrive Office Locations

Tyresonthedrive has offices in Holmes Chapel, Bristol, Southampton, Birmingham and in 3 other locations
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Tyresonthedrive Financials and Metrics

Summary Metrics

Founding Date

2011

Total Funding

$9.9 m

Latest funding size

$9.86 m

Time since last funding

a year ago

Investors

Tyresonthedrive's latest funding round in January 2017 was reported to be $9.9 m. In total, Tyresonthedrive has raised $9.9 m. Tyresonthedrive's latest valuation is reported to be £77.4 m.
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Tyresonthedrive Financials

Tyresonthedrive's revenue was reported to be £15.15 m in FY, 2016
GBP

Revenue (FY, 2016)

15.1 m

Gross profit (FY, 2016)

1.2 m

Gross profit margin (FY, 2016), %

8%

Net income (FY, 2016)

(7 m)

EBITDA (FY, 2016)

(6.4 m)

EBIT (FY, 2016)

(7.1 m)

Market valuation

77.4 m

Cash (31-Dec-2016)

1.5 m
GBPFY, 2015FY, 2016

Revenue

8.9 m15.1 m

Cost of goods sold

8.4 m13.9 m

Gross profit

458 k1.2 m

Gross profit Margin, %

5%8%
GBPFY, 2012FY, 2013FY, 2014FY, 2015FY, 2016

Cash

283.7 k541.5 k4.5 m4 m1.5 m

Accounts Receivable

19.8 k113.9 k13 k21 k

Inventories

7.6 k18.4 k44 k276 k317 k

Current Assets

311 k673.8 k4.7 m4.8 m2.6 m
GBPFY, 2015FY, 2016

Net Income

(4.5 m)(7 m)

Cash From Operating Activities

(3.5 m)(5.6 m)

Cash From Financing Activities

4.7 m4.1 m

Net Change in Cash

(488 k)(2.6 m)
GBPY, 2016

Revenue/Employee

525.4 k

Financial Leverage

-1.6 x
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