Love2Laundry, a digital laundry and dry-cleaning delivery service, is currently seeking £150,000 through its equity crowdfunding campaign on Crowdcube as it prepares to expand its platform. Founded in 2014, Love2Laundry reports that it currently has over 5,000 members and now covers 58% of London. It has also received more than 35,000 orders. The company revealed:
“Scheduled from our simple app and website: we collect, clean, fold, and return our customers’ laundry – all within 24 hours. Our software automates the entire logistics chain, and it is this efficiency which allows us to stay price competitive – our prices start at £1.65 / kg of laundry. We work with a simple goal in mind, to make it easy for all Londoners to get their dry-cleaning and laundry done by offering convenient and affordable services.”
Also explaining the funding breakdown, the Love2Laundry team shared:
“Funds raised in this round will be used to increase our digital marketing budget and to expand to initially cover all postal districts in South East and South West London. We intend to hire 2 full time marketing executives to expand our residential and convenience store revenue streams. In addition, we will enhance our IT infrastructure and plan to open high street stores at strategic locations to minimise our logistics cost. We also plan to launch our new premium service for the affluent consumer market.”
The campaign is set to run until the beginning of June.
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