Business

Portadown based motor repairs comparison site raises £2m in start up funding

MyCarNeedsA.com managing director Scott Hamilton with Alan Watts, director of Halo
MyCarNeedsA.com managing director Scott Hamilton with Alan Watts, director of Halo MyCarNeedsA.com managing director Scott Hamilton with Alan Watts, director of Halo

A PORTADOWN firm which provides a price comparison site for motorists seeking vehicle repairs or parts has raised £2 million in start up capital.

MyCarNeedsA.com enables users to seek quotes from multiple mechanics and workshops whether it be for an annual service or MOT check or general repairs.

The company which launched in 2014 has just secured £400,000 investment on top of £1.5m already raised.

It has built up a network of approved providers - with 3,000 garages currently on its books - and the site has attracted 70,000 car owners.

Finance has been raised through a combination of corporate and UK private investors, including £500,000 from Northern Ireland private investors from Halo, the NI business angel network, and significant investment from the NI Co-Fund.

MyCarNeedsA.com managing director Scott Hamilton said he started the business after noticing a gap in the market.

“We know how much people research online nowadays before committing to a purchase, which has resulted in the huge growth of comparison sites in sectors such as insurance, travel and grocery retailing," he said.

"It struck me that there were no such sites for consumers to compare trusted alternatives for vehicle repairs, despite the fact that research shows that car owners are often uncertain about where to find quality services that can still offer great value.

“It’s clear that, up until now, consumers have often been forced to sacrifice quality in their efforts to secure the best deal. Our performance so far, with almost 11,000 jobs per month (a figure which is rising every month), suggests I was right."

Halo director Alan Watts said the company understood "the reality that no longer do people go for a 'garage down the road’ because they are the cheapest or the closest.

“We are a nation that wants the best deal in the most convenient way and online can be the solution. In just a short space of time the company has expanded across the UK, opened up new headquarters and acquired thousands of reputable providers. We expect them to be a major player in the automotive sector in the next few years.”