Post-acquisition, Doormint investors Kalaari Capital and Helion Ventures will hold equity in Wassup Laundry. Wassup is only acquiring the tech and infrastructure assets of Doormint and the team will not join the startup post acquisition.
Founded in 2011 by Balachandar R and Durga Das, Wassup is an on-demand service provider which currently offers services like laundry, dry cleaning, shoes, and bag refurbishments at the user’s doorstep.
Currently operational in seven cities – Chennai, Bengaluru, Delhi, Gurugram, Pune, Mumbai, Hyderabad and Cochin, Wassup is eyeing pan-India expansion.
Talking about future plans for the startup, co-founder of Wassup, Balachandar said, “We are looking at a revenue of 100 Cr in 3 years time. This will be achieved as a combination of B2B , B2C and franchise laundromat business.” Wassup currently serves over a 1000 orders monthly with a ticket-size of INR 300.
Rajesh Raju, Managing Director of Kalaari Capital said, “Wassup Laundry has shown the potential to weather difficult market conditions. We have seen the online laundry space go through rough times but believe that Wassup has a unique hybrid model with strong unit economics and a brand of national presence that can be leveraged to create a leading laundry brand in India.” Post-acquisition, he will be on the advisory board of the company.