Wasssup plans to open 50 stores by the end of FY2017-18
Wasssup plans to open 50 stores by the end of FY2017-18

Chennai-based on-demand laundry services startup Wassup has secured USD3.2 Mn in Pre-Series A round from existing investors which includes Anil Jain (MD at Refex Energy), HNIs from India and the Middle East.

The company plans to utilise the freshly infused funds for expansion and to build a stronger management team.

Balachandar R, founder, Wassup said, "We have signed up interests and will be announcing the incoming investors soon. Also, the current funds will be utilised to consolidate our position as market leaders, increase distribution presence, invest in technology, team, and marketing."

Currently operational in seven cities – Chennai, Bengaluru, Delhi, Gurugram, Pune, Mumbai, Hyderabad and Cochin, Wassup eyes for pan-India expansion.

They currently have 30 hyper local hubs/retail stores. The startup is looking to expand to 50 stores by the end of this financial year through their retail franchise model.

Balachandar 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."

 
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