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Fresh Car Valeting begins £1m investment round

investment

The car care firm plans to increasingly target the Midlands and South of England in 2022

Fresh Mobile Car Valeting has begun a £1m investment round and launched a new app as it expands across the UK.

It now has 28 operators and 21,000 customers across the UK, adding new locations in Liverpool, Warrington, Bolton, Wigan, Stockport, Swansea and Kent during 2021.

Having strengthened coverage in the Central Belt of Scotland and the North of England over the last 18 months, it plans to increasingly target the Midlands and South of England in 2022.

Chief executive Sam Brennan explained: We are in an exciting place at the moment, doubling revenue on the platform at the beginning of the year, bringing three new people into the team and launching some significant tech updates.

We feel like we’ve proved the business model and now it’s time to go for some external investment and take things to the next level, he said. The market of 31 million users across the UK is worth more than £1.2bn, so making it as simple as possible to deal with us is vital – launching a new app does exactly that.

His team plans to add new features to the app over the next 12 months. It aims to add services like tyre and oil changing, and scratch removal to the offering over the longer term.

It’s great to get the app launched and out there, and we’re in the process of adding online payment and a subscription service, just two of a number of features we’ll be adding in the months ahead, he said.

Brennan sees opportunities around building partnerships with a car and car care-related industry partners and the company is in discussions with a number of groups which he believes will be transformational to the company’s future growth.

We see a lot of value-creation opportunities around partnering with other industry players in ways that improve our breadth of offering to customers, so that’s going to be integral to our strategy over the next couple of years, Brennan said.

Fresh is backed by Ambergreen founder Tino Nombro, NatWest Group’s director of public policy Michael Crow, Kingford Estates founder Alex Watts, and Paywizard Group founder Jonathan Guthrie.

Important:

This article is for information purposes only.

Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.

There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.