Harbottle & Lewis has advised on-demand laundry and dry-cleaning platform Laundryheap on its USD3.5 million Series A round led by Sova VC with participation from SidebySide Partnership.
Founded in the UK in 2014, Laundryheap provides door-to-door laundry and dry-cleaning services, returning items to users within 24-hours. During the pandemic, Laundryheap introduced new ‘virus wash’ services and extra-hot cleaning offerings, as well as extended support for their B2B clients. They have also focused on making their supply chain more sustainable through green cleaning techniques and low-carbon transport. The company is currently present across eleven international markets and will use the funding to accelerate its expansion, with a stated aim to triple the size of the business by the end of 2021.
Tony Littner, Head of the Firm’s Start-up and Venture Capital group, commented: “Having worked with Laundryheap for a number of years since it was pretty much a start-up, we were delighted to have been able to support the company through this exciting chapter. The company’s founder, Deyan, managed to impressively bootstrap the business during its first few years of operation and to scale even during this recent very challenging period which is a great testament to him. We very much look forward to continuing to work with him on the next phase of the company’s journey.”
On working with Harbottle & Lewis, Deyan Dimitrov, CEO and founder of Laundryheap said: “Tony, Tom and the wider team at Harbottle & Lewis have been exceptional in helping us raise our funding and agreeing terms with investors. They understood the requirements of the deal very well and were able to advise swiftly at each stage. Harbottle is a very start-up friendly firm but also bring a wealth of experience to the table in helping understand everyone’s interests and ensuring that the transaction is completed in a speedy and efficient manner.”