Wassup acquires laundry brand Chamak

Wassup, an on-demand convenience brand, on Tuesday, announced that it had acquired Chamak in a full equity deal.

Wassup, a brand active just in Pune, Cochin and Delhi, will now begin operations in Mumbai. The plan, the company said, was to now expand to 20 territories in the next 6 months.

Chamak, has been backed by prestigious investors like Kensington Capital, Index Advisory, Innosight Ventures, Calvert Investments and HNIs such as Rajan Mariwala (Marico Group) and Sandeep Tandon (Angel Investor at Freecharge & Tiny Owl).

"Chamak is India's first and brand in this space, which started 7 years ago. We are happy to have the Chamak team on board with Wassup," said Balachandar. R, Co-founder and CEO, Wassup

 

The on-demand convenience industry globally is estimated at $9 billion. The laundry market is estimated to be valued at Rs 2 lakh crore, of which 95% is unorganized market.

Wassup offers services such as laundry, dry cleaning, shoes and bag refurbishments in 11 territories currently.