On-demand laundry service Laundrapp has raised £4 million in a funding round led by a group of investors including ICAP plc founder Michael Spencer.
In February of this year Laundrapp CEO Ed Relf told Growth Business he wanted the company to be “the Uber of the laundry industry”. Previous to this latest funding round the company raised £1.5 million in seed funding – led by Rupert Hambro and Dominic Perks.
After starting in London in January 2015 the business is expanding into a number of UK cities, including Birmingham, Manchester and Cardiff.
Michael Spencer’s private investment group IPGL was a cornerstone investor in the most recent investment round – with Spencer also making a personal investment. As part of the deal IPGL chief executive Tina Kilmister-Blue will join the board of Laundrapp.
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The laundry app is available across all Apple, Android and Amazon platforms. The technology is backed by a wealth of technological experience – with Relf having previously worked on Moshi Monsters. On the investment side former Sports Direct International strategic development director Jeff Blue is also on board.
Commenting on the funding round, Laundrapp chairman and co-founder Dom Perks said: ““We are delighted to have closed this funding round and to have attracted such significant investors. This gives us the firepower to go out and make Laundrapp the solution to everyone’s washday woes.”
Spencer also expressed his satisfaction with the deal and his own personal involvement with Laundrapp.
“I wish Laundrapp had existed when I was a young broker,” he said. “It would have made my life so much easier. So when they pitched the idea to me I was hooked right away and I am convinced this will be a big success.”
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