Laundry services start-up Wassup raises $ 3.2 mn

Chennai: Omni-channel, on-demand laundry services startup Wassup has raised $ 3.2 million per series A from existing investors including Anil Jain, MD, Refex Energy, HNIs from India and the Middle East. The company will use the investment for expansion and to build a stronger management team. “We would also utilise the funds for improving the tech interface and increase our customer base through acquisitions of smaller companies and organic addition of customers,” said Balachandar R, Co-Founder, Wassup.

Speaking of the investment, Anil Jain, said, “The company has a sustainable, scalable model and has been steadily growing since its start in 2011. Among several laundry service startups that sprung up in the last 18 months, some of which have shut down, Wassup has steadily added 7 cities to its list.”

The company had earlier raised $2million from Arun Chandra Mohan and Praveen Sinha, the co-founders of Jabong and angel investor Micky Watwani and had acquired two startups Ezeewash and Fabfresco. It has B2C and B2B customers from the hospitality industry in Chennai, Bengaluru, Hyderabad, Kochi, Delhi, Mumbai and Pune.

Source: Times of India