Egyptian laundry app Laverie raises 6-figure funding round for expansion

Egyptian on-demand dry-cleaning and laundry app Laverie has raised a six-figure funding round as it aims to expand operations over the Greater Cairo area, and subsequently the GCC, with a new range of services.

Launched in 2018 by Ayman Gaballah and Mohab Aloush, who have recently been joined by new chief executive officer (CEO) Hani Salama, Laverie has processed over 60,000 items and acquired a client base of over 4,000 registered users, with a month-on-month growth rate of 25 per cent.

The startup plans to expand its operations to provide easy access to premium laundry services to a much wider range of unserved clientele in the Greater Cairo area, and subsequently expand to the Gulf within the next two years. To fund this, it has secured a six-figure US dollar investment from A15.

“Partnering with A15 is a pivotal milestone for Laverie and we are thrilled to be a portfolio company of such a leading and impactful tech investor. We are excited to have access to A15’s team of experts who will help build capabilities across different functions through its venture development program as well as use its network and offices for future regional expansion,” said Gaballah.

“We have noticed the work of the Laverie team, how they achieved early organic traction in the areas they operate in and the exceptional level of service they provide to their clients. The startup is a great addition to our portfolio given our previous experience in building and investing in tech-enabled consumer startups,” Karim Beshara, A15 general partner, said.