TORONTO — WeeL, a technology startup based in Toronto, has raised more than $750,000 in Canadian dollars ($546,090 U.S.) in its first round of external fundraising, with Quebec-based tire distributor La Cie Canada Tire Inc. as a major investor.
WeeL, which has been providing mobile at-home car maintenance and repair services in the Greater Toronto area, said it is raising capital to strengthen its predictive-pricing modeling to bring transparency to consumers who prefer on-demand mobile servicing with real-time, guaranteed pricing.
The fundraising round was led by Canada Tire, which operates in Ontario as Canada Supply & Tire, along with angel investors, including Michael Galego, Stephen Arbib and Lorne Gertner.
"Canada Tire chose to invest in an auto-tech startup like WeeL because of its potential to modernize the automotive aftermarket," Canada Tire CEO Gabriel Granatstein said.
"We believe the platform provides tremendous value and efficiency for all participants in the auto ecosystem and is strategically aligned with our core business and vision for the future of the industry."
Founded in 2017, WeeL provides a website where vehicle owners can schedule services with mobile mechanics or auto service shops and receive upfront pricing.