FUNDING

Laundry Services Wassup secures $3.2 Million from Refrex Energy

On-demand laundry service startup – Wassup Laundry Solutions has raised $3.2 Million of Pre-Series A Funding from Anil Jain (MD at Refrex Energy) along with HNIs from India and the Middle East.

The Chennai-Based company was founded in 2011 by Balachandran. The startup is India’s first friendly neighborhood laundry & dry cleaning service. Wassup professionally runs set up with state of the art machinery and skilled fabric experts who ensure hygiene and utmost care of your garments.

Earlier in January 2012, Wassup raised $200K of seed funding from Mickey Watwani (Angel Investor); later in May 2015, the startup raised $2 Million of Seed funding from Arun Chandramohan and Praveen Sinha(Co-founders of Jabong). The startup has acquired some of its rivals like Ezeewash in April 2016 and Chamak Direct in November 2015 in order to strengthen their grounds. The total equity funding of Wassup is about $5.7 Million pounds which took place in 3 rounds from 4 investors.

The CEO Mr.Balachandra said: “Currently we are in 7 cities doing 1000 orders plus per day. We are looking at scaling up our business through consolidation, franchising, aggregation. With many on-demand laundries failing to survive, we are operationally profitable thanks to our hybrid model of B2B and B2C, which keeps us operational in the green.”

The Chennai-Based company has about 250 employees are working for them. They operate B2C and B2B operations for customers in Chennai, Bengaluru, Hyderabad, Kochi, Delhi, Mumbai, and Pune.Wassup will use their new funds for improving the tech interface and increase their customer base through acquisitions of smaller companies and the organic addition of customers. Read  startup news.

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Laundry Services Wassup secures $3.2 Million from Refrex Energy
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