UK-founded Laundryheap, an on-demand laundry and dry cleaning service, has acquired the digital assets of Parisian competitor Lavoir Modern. The terms of the deal remain undisclosed, and the move is meant to further expand Laundryheap’s commercial footprint in the French capital city.
Hung out to dry
Since falling into administration earlier this year, the future of Lavoir Modern has hung out to dry.
Lavoir Modern was founded in 2012 and previously backed to the tune of €8 million by Centuria Capital, Industry Capital, and angel investors former Renault F1 head of engine design Axel Plasse, and former insurance giat AXA deputy CEO Denis Duverne.
Fourth acquisition
The acquisition marks Laundryheap’s fourth in 20 months, having acquired French competitor Wast in June of this year, and the B2C operations of the UK’s Oxwash in April of this year, and Laundrapp in April 2022.
Laundryheap was founded in London in 2014 by former Rocket Internet global venture development manager Deyan Dimitrov, Mayur Bommai, and Ruxandra Lica.
The team bootstrapped the business until October 2017, first raising £2 million via London’s Niche Invest CEO Simon Smith and QVentures. The trio has since raised an additional £7 million from investors including Verb Ventures, and The SidebySide Partnership.
The company operates across 11 markets; the UK, US, Ireland, Sweden, Denmark, the Netherlands, the UAE, Singapore, Bahrain, Kuwait, and Qatar.
On the acquisition, Dimitrov commented:
“We are thrilled to further bolster our presence in France with the acquisition of the Lavoir Moderne digital assets. We look forward to growing our footprint in the region and providing our Parisien customers with the excellent service we are known for.”
Lead image via Laundryheap. Photo: Uncredited.
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