Chennai-based omni-channel, on-demand laundry services startup Wassup has raised $3.2 million in pre series A funding from existing investors including Anil Jain, MD, Refex Energy, HNIs from India and the Middle East.
The startup will use the funds raised 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.
Wassup had earlier raised $2 million from Arun Chandra Mohan and Praveen Sinha, the co-founders of Jabong and angel investor Micky Watwani.
Wassup is present in 7 cities — Chennai, Bengaluru, Hyderabad, Kochi, Delhi, Mumbai and Pune, and has serviced over 3 lakh customers and laundered over 40 million pcs in the last 5 years offering services with convenience through retail hubs, mobile app, website and its toll free number.
Speaking of the recent investment, Anil Jain, the investor 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.”
Wassup stores, which work on a hub and spoke model, are 150 sqft collection points for laundry which acts as the spoke.