Laundry O2O service, WASHSWAT (Co-CEOs: Sangwook Ye, Jina Namgung), recently secured US$2.8 million in investment from global VCs. The investment was led by Russian-based VC Addventure along with previous seed investors Strongventures and Primer.

Known as the “Uber for laundry,” WASHSWAT targets small households of 1-3 people, allowing users to order and receive their laundry orders within three clicks on a mobile app. All laundry home-deliveries are completed exactly in one day: “laundry picked up today, delivered to your home tomorrow.”

Also Read: These funny stories from our Echelon TOP100 startups will crack you up, part 1

Since its launch, the service has seen 100 per cent annual growth, with loyal, repeat users (those who use WASHSWAT more than twice after the first order) comprising 60 per cent of the customer base.

Co-CEO Jina Namgung notes that “this new round of investment will be used to enhance our laundry quality and speed,” hoping that they “become Korea’s best laundry service.”

Also Read: Why M&A due diligence is so important: A cautionary tale

WASHSWAT is currently available in Gangnam, Seocho and Songpa districts and will continue to expand throughout the country in 2018.

The article WASHSWAT Secures $2.8M from Global VCs first appeared on Tech For Korea.

Copyright: rastudio / 123RF Stock Photo