Washmen raises $6.2 million Series B
Source: Menabytes
Washmen, a Dubai-based dry cleaning and laundry service has raised $6.2 million in its Series B round, the startup announced today in a statement to MENAbytes. The round was led by AddVenture, a global VC based in Russia, which happens to be a returning investor and has prev. invested in Dubai-based ServiceMarket as well. The round was also joined by Germany-based leading consumer goods company Henkel, Lebanon’s Cedar Mundi Ventures and B&Y Partners and UAE’s Clara Ventures. This round takes total investment raised so far by Washmen to $7.8 million.
Founded in 2015 by Rami Shaar and Jad Halaoui, Washmen had originally started with an asset-light model connecting customers with logistics partners and existing laundromats, but now fully owns the supply chain after launch of its own 30,000 square feet laundry and dry cleaning facility last month.
Washmen allows users to order laundry or dry cleaning services through its mobile app (for Android or iOS) by selecting pick up and drop off times. The turnaround time is 48 hours but users also have the option of requesting next day delivery by paying 50 percent premium on the charges.
The statement by Washmen notes that its strategy to vertically integrate across the supply chain was gradual over the last 4 years which helped them improve unit economics and customer retention. The startup claims to have become the largest retail laundry and dry clean operator in the UAE.
