Mobile Klinik has raised $6.85 million in an oversubscribed Series B funding round.
The Toronto-based professional smartphone and tablet repair company had their latest round led by Kensington Capital Partners along with individual investors Tim McGuire and Rob Pitfield who have years of experience in the industry.
The new funding will be used to accelerate the growth and scaling strategy to provide Canadians with professional while-you-wait device repair, all covered under warranty. This is important as it can sometimes be difficult to find a physical outlet for your phone company (particularly Apple) to drop in for repairs if you’re not in a large city. Mobile Klinik offers quick repairs, often under 60 minutes. Experts will diagnose your problem and repair it with premium parts and a lifetime guarantee on parts and labour.
“Having one of the highest smartphone penetration rates in the world gives Canadians a real need for professional repair and care,” said CEO Rob Bruce. “Mobile Klinik meets that need head-on with best-in-class, on site repair from expert technicians who can fix your device while you wait. We are thrilled to be able to more rapidly expand our industry-leading value proposition to serve consumers from coast to coast.”
Tim McGuire has also joined the Mobile Klinik board of directors and will become the new chairman. Mike McKenna, the former director of TMT investment banking at Scotiabank will be CFO and also join the board.
Mobile Klinik began when four industry leaders from WIND Mobile, Rogers, and other wireless outlets came together and found a need for a quick-serve repair outlet for smart mobile devices.
Just last week the company announced the acquisition of nine new locations in Alberta, bringing the total number of Mobile Klinik locations to 20 since the first location opened its doors in September 2015.