London-based mobile vehicle repair aggregator Axioma has secured a £150K investment from early-stage focused venture capital firm Jenson Funding Partners (that invested in ZappedSkin and Sküma Water). The investment is a part of a follow-on seed round. Since the initial investment almost a year and a half ago, the business has seen a 4x increase in monthly revenues.
Plans to expand beyond automotive repair
Axioma has its sight on expanding into the broader handyman space. The business employs technicians that know the ins and outs of what repair costs and timings should be, which allows it to price these services at a discount compared to competitors. They plan on copying the model they have successfully introduced into the automotive body repair space to other verticals such as home improvement, mechanical repairs, and deep cleaning services.
Stefano Sironi, co-founder, and CEO at Axioma, said: “With the growing cost of living crisis and inflation continuing to rise, consumers are looking for more ways to make their money go further. Services like ours are really important and helpful in that respect as our mission is to help car owners save money on otherwise costly repairs. By bringing together the most trusted local repairers into a single platform, we can provide motorists with the highest quality repairs at more affordable prices. This investment will only help us develop our product further and give even more customers the opportunity to save their hard-earned money.”
Sarah Barber, CEO at Jenson Funding Partners, added: ”We’ve all experienced going to a garage and having little idea of the real value or time required to do the work. Axioma solves a real-world problem by providing trusted technicians who quote competitively on jobs because it’s actually far easier to put a price on it than people realise. It’s a proposition that’s clearly resonating with motorists and leading to impressive revenue growth, which is why we were delighted to be able to follow-on a successful investment.”
Eyes to disrupt global automotive repair market
Axioma was founded in 2018 by Stefano Sironi, with a background in insurance telematics and investment banking. After identifying the at-home automotive body repair niche, they could successfully test their vision of providing a helping hand to any customer that requires a handyman service.
By gathering the best local repairers under one roof, Axioma can provide the highest quality car body repairs at the most competitive prices. From quoting to after-care, Axioma has helped thousands of UK drivers maintain the value of their cars in an eco-friendly and cost-effective way.
The company is looking to make a dent in the £150 billion global automotive repair market by removing the rip-off factor and making the car repair process simple, convenient, and affordable.
After launching its retail offer in 2021, Axioma has completed over 3,000 jobs. The aggregator currently specialises in at-home automotive body repairs, such as those that result from minor collisions.