Funding

Egypt’s Laundry Startup, Laverie, raises Six-figure Funding Round led by A15

Laverie, Egypt’s first dry-cleaning and laundry app, has raised an undisclosed six-figure (USD) funding from A15, one of Egypt’s biggest tech investors. With a new range of services, the groundbreaking dry-cleaning and laundry app hopes to extend its operations across the Greater Cairo region, and eventually the GCC.

“Partnering with A15 is a pivotal milestone for Laverie and we are thrilled to be a portfolio company of such a leading and impactful tech investor. We are excited to have access to A15’s team of experts who will help build capabilities across different functions through its venture development program as well as use its network and offices for future regional expansion,” Ayman Gaballah, Co-founder at Laverie said.

The funds will be used to start a luxury laundry service in Greater Cairo, with hopes to extend to the Gulf Cooperation Council over the next two years.

Hani Salama, the new CEO of Laverie, who has been operating his family-owned laundry company for 30 years, has also joined the startup at this stage. In view of the team’s previous accomplishments and experience. Laverie’s goal is to disrupt and improve Egypt’s on-demand customer service level.

“I am very excited about joining Laverie, and having the opportunity to converge the 30 years of my family-owned laundry business experience into Laverie’s innovative digital model, along with the new services that will be added to our portfolio. We are looking forward to fine tuning a localized model capable of scaling in the Gulf countries with the support of our stakeholders soon,” Hani Salama, CEO at Laverie, has stated.

Read also: Egyptian payments startup, Paymob, secures $18.5mn Series A round

Laverie has handled over 60,000 products and acquired a customer base of over 4,000 registered customers, with a month over month increase of 25%, since it was created in 2018. This has piqued A15’s interest.

“We have noticed the work of the Laverie team, how they achieved early organic traction in the areas they operate in and the exceptional level of service they provide to their clients. The startup is a great addition to our portfolio given our previous experience in building and investing in tech-enabled consumer startups,” Karim Beshara, A15 General Partner, said.

A15 is an Amsterdam-based Middle East and Africa-focused venture capital company that invests in digital products and technology brands. The VC had, in October last year, made a six-figure investment in Cairo-based community-inspired startup, Milango. It also invested most recently in Egyptian fintech startup Paymob.

Read also: PricePally bags six-figure pre-seed funding round from a group of investors


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What You Need to Know About Laverie 

Founded in 2018 by Ayman Gaballah and Mohab Aloush, Laverie is a professional on-demand dry clean and laundry service with pick-up scheduling through the startup’s mobile app. 

The smooth user experience and journey when using the app, the level of service, and after-sales customer care are what set Laverie apart from other players in the industry. For added ease, the company provides order monitoring and a variety of payment solutions.

Laverie intends to extend its activities in the Greater Cairo region to offer convenient access to luxury laundry facilities to a much broader variety of unserved clients, with the aim of extending to the Gulf over the next two years.

The founders of the startup have a combined 20 years of experience in software growth, corporate development, and digital transformation in both large corporations and small businesses. 

“The revolution in digital services is touching upon all sectors, and I see a great potential & need in the laundry market in Egypt for transformation and makeover. With a capable team such as Laverie’s, we can expect to disrupt the industry,” said Sahar Salama, Laverie Board Member.

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