GoMechanic said that it has emerged stronger after its strategic acquisition by Stride Ventures led by the Lifelong Group in partnership with Servizzy. “The acquisition has empowered the brand to retain its loyal customer base and continue providing employment and opportunities within the highly unorganised car repair industry in India”, the company said in its statement. 

It added that the acquisition achieved with the assistance of Avlon Business Consulting rescued the brand, preserving its market value and enabling it to retain customers based on the value and quality offered. 

In January this year, financial irregularities were reported in the books of the car servicing start-up, which led it to lay off 70 per cent of its workforce.  

However, it noted that between April and June 2023, it serviced more than 68,500 cars across India, which reportedly helped it revive its growth. It recorded 30 per cent growth in service revenue and Gross Merchandise Value (GMV) during this quarter, following the acquisition in March 2023, the company said in a statement. 

GoMechanic is also running a ‘Tiles Membership loyalty program’, which includes its annual maintenance contract. Over 10,000 new Miles Memberships were activated since April 2023, and the total number of active members has increased to over 48,580 active memberships.

It has once again launched its car accessories across online-offline channels on Amazon, Flipkart, and Cred Plus, and through distributors in the offline market, to offer a seamless shopping experience for customers. The company is actively re-establishing networks with valued channel partners to expand distribution and provide easy access to a diverse range of automotive accessories, said the company.