GoWrench secures $525K seed financing

GoWrench Auto has raised $525,000 in seed funding from investors including Ontario Centre of Excellence (OCE), Good News Ventures, Lindsay Adamson (an executive sales and mindset coach), and Sameer Kochhar (founder of password storage company Last Pass).

Hamilton, Ontario, GoWrench is a mobile automotive maintenance service that sends fully-vetted and certified mechanics directly to the customer, instead of the other way around.

GoWrench is currently available in over 45 cities across Canada, predominantly in Ontario and British Columbia. Key markets include Hamilton, Toronto, Ottawa, Kitchener-Waterloo, Vancouver, Burnaby, Langley, and more.

GoWrench intends to use new funding to scale-up operations, onboard mechanics, and develop on its B2B and consumer-facing platform.

“GoWrench is shaking up the auto maintenance industry and this raise is a testament to how many people support our vision and crave a change in this space,” said Josh Lombardo-Bottema, CEO and founder of GoWrench. “What started out as a spur-of-the-moment idea when my vehicle broke down has resulted in saving people time. With this funding, we’re incredibly excited to get the opportunity to offer our service to more consumers across Canada.”

“Through the Market Readiness Program, OCE funds companies like GoWrench to assist with early-stage commercialization and growth,” said Dr. Tom Corr, President and CEO of Ontario Centres of Excellence. “The Customer Creation stream of the Market Readiness Program is designed to support companies looking to increase their customer base, and we are thrilled to see GoWrench do this by successfully disrupting in the automotive space.”

“At Good News Ventures, we back true grit entrepreneurs who are passionate, visionary and determined,” added Marat Mukhamedyarov, Managing Partner, Good News Ventures. “Josh has such qualities and we are excited to be on board with him to disrupt the automotive industry.”
GoWrench provides its fully-vetted, certified mechanics more autonomy when it comes to workflow and scheduling. GoWrench’s mechanics have more flexibility, more independence and more freedom to take on projects that they are interested in.

photo credit: GoWrench

Ted Liu

Ted Liu, M.Sc. (Mining, Queen's), MBA (Finance, Toronto), is the Editor of Private Capital Journal, CanadaMetals.ca, TechWire.ca, and the former Editor of Canadian Private Equity. Ted has been passionately tracking Canadian private capital industry since 1992, having most recently served as Research Director for The Canadian Venture Capital and Private Equity Association (CVCA).

Ted is the architect of CVCA infobase, and is the architect of CPE Media's Financings.ca, Canada's most sophisticated and advanced all private capital and public market financing database.