ICAP founder and Sports Direct tycoon invest £4m in Laundrapp

‘Uber for laundry’ tech start-up launched less than three months ago and is already set for “rapid growth”

Dry cleaning and laundry collection app Laundrapp, which recently featured in our Just Started, has scooped £4m in a deal led by City businessman Michael Spencer; the founder of interdealer broker ICAP, and Sports Direct chief executive Jeff Blue.

Launched in January by former MindCandy marketing chief Ed Relf, Laundrapp is on-demand laundry and dry cleaning service which offers door-to-door collection and delivery to anyone in the London area through its network of dry cleaners – dubbed the ‘Uber for laundry’.

This latest funding led by Spencer, who is said to be worth an estimated £500m, follows two previous seed rounds amounting to £1.5m which were backed by leading names such a Rupert Hambro; the former chairman of Hambros Bank, and serial entrepreneur Dominic Perks.

It will use the investment to “deliver on its ambitions to expand the company further”.

Speaking to Startups.co.uk in February, Relf said he wanted the app to disrupt the dry cleaning market and make “washing machines a thing of the past”:

“Ee certainly have aspirations for how to continually simplify the lives of people through smart digital and on-demand solutions. We’re ambitious, creative and entrepreneurial; and we want to disrupt and create new consumer behaviour around laundry and dry cleaning.”

Comments

(will not be published)