Wrench, a 8-year-old Seattle startup that offers a mobile car repair service, is raising more cash.
- New SEC filings indicate $40 million raised in debt and $14.2 million raised in equity. The company declined to comment in response to a GeekWire inquiry.
- Backed by the likes of auto giant Bridgestone and venture capital firms, Wrench employs “mobile mechanics” around the country that come to the customer to do repair jobs, eliminating the need to visit a physical shop or dealership. Wrench also provides access to roadside towing, vehicle detailing, tire installation and inspection of used cars prior to purchase.
- The New York Times reported in July that vehicle repair costs are increasing due to more complex materials and car systems, as well as expensive fixes for electric cars.
