Laundryheap secures £2.5m Series A investment led by Sova VC to fuel international expansion
The funding round was led by Sova VC with participation from the SidebySide Partnership.
Laundryheap operates an on-demand digital platform providing laundry and dry-cleaning collection and delivery services to consumers and businesses. The company delivers cleaned items within a 24-hour turnaround window across multiple international markets.
Laundryheap has secured £2.5m in Series A funding to support its ongoing international expansion and growth objectives. The investment round was led by Sova VC, with participation from the SidebySide Partnership.
The on-demand laundry provider experienced a surge in customer demand and expanded its operations into new territories including the US, Singapore, Sweden, and the Middle East during 2020. The company also introduced specialized services such as virus washes and enhanced support for corporate clients.
The fresh capital will be deployed to accelerate further expansion into new international markets while maintaining a focus on profitability and sustainable growth.
From the founder
"We’ve never focused on the kind of ‘growth at any cost’ expansion that other on-demand businesses have and our approach to fundraising reflects this. We bootstrapped for the first few years of our operation and didn’t raise our Seed round until we were confident in our model. That’s why this is a really exciting chapter for us. We’re raising this Series A because it’s the right time to focus on more rapid expansion and the round will enable us to consolidate our position as the best on-demand laundry platform in the market. We’re delighted that Sova VC has led this round and we’re looking forward to working with them closely over the coming months and years."
Deyan Dimitrov
CEO & Founder at Laundryheap
Investor perspective
"We look forward to working with Deyan and the team to consolidate their position as the world’s fastest growing laundry and dry cleaning marketplace and grow its market share in the years ahead."
Alexander Chikunov
Partner, Sova
Use of funds
- 01Expand into international markets
Investors
Categories
About the company
Laundryheap
On-demand laundry and dry-cleaning platform offering fast door-to-door services.