DSIM Startup of the Week “Wassup”:

02/09/2016
image from-dsim

How Wassup is dominating the on-demand Laundry Industry?

Since its launch in 2011, Wassup has been growing its customer base in laundry and dry cleaning industry. Currently it has started its service in seven Indian cities including Bangalore, Delhi, Gurgaon, Mumbai, Chennai, Cochin and Pune. It has about 50 pick-up points where customers can drop off their laundry.

Wassup is servicing 700 orders per day and till date it has processed 40 million garment units. It has many renowned names in its customer base in B2B segment like Taj Vivanta, Radisson, The Oberoi, IIT Madras, VIT, Indian Navy and Mahindra World City.

How Wassup started?

Sensing the gap in the market, Balachandar R, the founder of Wassup started the company leveraging the modern technology and created a strong niche in a very small span of time.

The startup currently employs to more than 300 people and has processed more than 4 crore garments serving 3 lakh customers in 8 cities.

Why we chose Wassup as Startup of the Week?

  • The 5 year old startup operates in 8 Indian cities including Delhi, Bangalore, Gurgaon, Mumbai, Chennai, Cochin and Pune.
  • It also offers 50 offline drop points where customers can drop their garments.
  • Growing organically, the company has acquired Mumbai-based express laundry service provider Chamak and Hyderabad based Ezeewash.
  • In May 2015, Wassup raised $2 million in pre-Series A funding from Jabong co-founders and other angel investors.
  • Earlier, it had raised Rs 4 crore institutional funding from Canada Bank.
  • At present the platform is catering to more than three lakh customers.
  • Wassup is now processing 700 orders per day and has processed 4 crore garments till date.
  • The Wassup service is currently on-demand either through app, website, call center and 50 stores across India.

Funding and future Planning

wassup-funding-dsim

In May 2015, the laundry startup Wassup raised $2 million from the co-founders of Jabong and other angel investors to grow in more Indian cities. Prior to this, Wassup had raised INR 4 crore institutional funding from Canada Bank that helped the brand a lot in surviving and expanding its footprint.

Talking about the annual turnover of the company, Wassup had an annual turnover of Rs 3.2 crore which they want to take to Rs 100 crore by 2017. Within the next three years, the company wants to be present in 100 cities.

Acquisition

Chennai-based on-demand laundry and dry-cleaning services startup Wassup has acquired Ezeewash, a Hyderabad-based launderette, in an all-equity deal, even as it scouts for more acquisitions to power its expansion across India. With this acquisition, Wassup will start offering its services in the twin cities of Hyderabad and Secunderabad.

Late last year, Wassup had acquired Mumbai-based express laundry service provider Chamak for an undisclosed amount. Wassup currently offers its services in seven cities – Bangalore, Delhi, Gurgaon, Mumbai, Chennai, Cochin and Pune. It plans to establish its presence in 100 cities in the next three years.

Competition

Indian laundry industry has more than 20 players that are trying to dominate the Laundry industry. Some of the new comers in the segment include Aap Ka Dhobi, Urban Dhobi, Doormint, Tooler etc. Few home service aggregators are also offering this service like HouseJoy and UrbanClap. But despite this, 95 percent of the market still remains unorganized.

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