EGYPT – Laverie, First Dry Cleaning & Laundry Mobile application app, has received an undisclosed six-figure (USD) funding from A15, one of Egypt’s biggest tech investors.
The investment will be used to launch a premium laundry service to cater to unserved clientele in Greater Cairo, with plans to expand to the GCC within the next two years.
The digital provider for laundry services has been operational since 2018 and has until now processed over 60,000 items. It has also acquired a client base of over 4,000 registered users, with a month-on-month growth of 25%.
“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,” said Karim Beshara, A15 General Partner.
“The startup is a great addition to our portfolio given our previous experience in building and investing in tech-enabled consumer startups.”
Laverie’s founders, Ayman Gaballah and Mohab Aloush, bring together over 20 years of experience in software solutions, business development, and digital transformation across multinationals as well as small enterprises.
“The startup is a great addition to our portfolio given our previous experience in building and investing in tech-enabled consumer startups.”Karim Beshara – General Partner, A15
They are now joined by new Laverie CEO, Hani Salama, who has come from running his family-owned 30 year old laundry business.
In light of the team’s track record and experience, Laverie intends to uplift the service level of on-demand consumer services in Egypt.
Laverie also plans to expand its operations to provide easy access to premium laundry services to a much wider range of underserved clientele in the Greater Cairo area. It plans to subsequently expand to the Gulf market within the next two years.
“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,” said Gaballah.
“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.”
Differentiating Laverie from other players in the market is the seamless customer experience and journey while using the app, the quality of service and after-sales customer care. The company also offers order tracking, and various payment options for convenience.
“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,” said Salama.
“We are looking forward to fine tuning a localized model capable of scaling in the Gulf countries with the support of our stakeholders soon.”
Laverie Board Member Sahar Salama said that the revolution in digital services is touching upon all sectors, and that there is great potential and 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, she added.
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