Wassup Laundry has acquired home laundry service startup Mumbai-based Doormint in an equity swap deal
This deal gives the Chennai firm access to the startup’s infrastructure and roughly 200,000 clients. Venture capital investors in Doormint, Kalaari Capital and Helion Ventures will hold equity in Wassup Laundry upon completion of the transaction.
Balachandar R, CEO of Wassup Laundry said…
“We have a 50:50 mix of B2C and B2B clients. When several players forayed into the market in 2014 and 2015, they were offering prices to consumers that were below the cost price of Rs 18 per piece. We took the hard call of retaining our prices and losing some business, but that’s the time when our B2B business helped us to survive,”
The company now has operations across seven cities with Bengaluru, Delhi and Chennai having the highest traction. The company has made multiple acquisitions in the past including Hyderabad-based Ezeewash in April, 2016.