ReadyAssist acquires SpeedForce for $10 million

A multi-brand two-wheeler workshop chain called SpeedForce has been acquired by Bengaluru-based ReadyAssist, a roadside assistance business, for $10 million in cash and equity. The announcement comes two months after it secured $5 million in a fundraising round headed by Howen International Fund, SPC.

With this, ReadyAssist hopes to compete in India’s largest network of multi-branded two-wheeler workshops. Additionally, the business stated that it intends to increase its network of SpeedForce workshops by 700 this year.

ReadyAssist is a platform that offers round-the-clock roadside assistance, breakdown support, towing, and repair providers for motorcycles and cars. It was founded in 2018 by Vimal Singh (CEO).

SpeedForce runs two-wheeler workshops across the country and says to have opened more than 300 shops in the last three years. It intends to grow to over 1,000 workshops the next year and 4,000 during the following three years.

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