Overfunding: MyCarNeedsA Secures £900,000 Funding Target on Seedrs

MyCarNeedsA.com, a comparison website that drivers use for all their car aftercare needs including car repair and maintenance, has successfully secured its initial £900,000 funding target through its equity crowdfunding round on Seedrs. The campaign, which was launched November, has attracted more than 200 investors.

As previously reported, MyCarNeedsA helps to save time, money, and hassle through its online process:

  • A car owner posts a job on the site for free. 
  • Pre-approved garages quote for the work. 
  • The car owner chooses their preferred quote 

MyCarNeedsA notably has nationwide coverage which comprises of a mix of independent service providers, franchises and chains, including many well-known names in the market. The service is free to users.

“Our experience in the market suggests that these businesses find it difficult to recruit new customers. Even those with a sound core of loyal business can often lack marketing resources to expand their base, or to attract the most profitable work in a way that suits their workflow schedules. For a monthly subscription, MyCarNeedsA.com can fulfil that marketing function and delivers quote requests that can be selected by Service Providers to suit their own business needs.”

Funds from the Seedrs round will go towards the marketing budget to acquire new car owners, on a linear basis per month, using historical performance and CPA’s per marketing channel. The company added in doing so will increase the database and project/ utilize to forecast future jobs and network growth. The funding round is set to close later this winter.

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