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Jabong founders invest $2 mn in laundry services start-up Wassup

Globally, the on-demand convenience industry is estimated at $9 bn

BS Reporter  |  Mumbai 

Wassup, an on-demand convenience brand co-founded by Balachandar R and Durga Das, has raised a lead amount of $2 million for its pre-Series A funding round from Arun Chandra Mohan and Praveen Sinha, the founders of Jabong.

With this, Wassup will continue to offer on-demand expediency services as well as expand its marketing and customer acquisition activities in Bengaluru, Delhi and Chennai. It will also add two more cities - Pune and Cochin -- to its network.

Globally, the on-demand convenience industry is estimated at $9 billion.

Wassup currently offers services like laundry, dry cleaning, shoes- and bag-refurbishments in three cities. The company has 30 pickup points, or “Aggregating Hubs”, where the garments can also be dropped off. Further, Another 30 hubs will be added over the next six months, with the aim to be in 100 cities with a customer base of 10 lkah in the next three years.

“We are looking to service the daily laundry requirements of middle class Indian consumers which is currently being addressed by a maid servant or by self-wash. The potential to move unorganized offline business to organized online convenience is huge. We are seeing a good opportunity and want to be the market leaders in the segment in India," Balachandar, who is also Wassup's CEO, said.

Wassup will add personal care, home care, car care, pet care and handyman services to its portfolio through its technology platform in the near future making it a truly comprehensive managed marketplace platform for on-demand consumer convenience.

First Published: Tue, May 12 2015. 16:35 IST