Kuwait-based venture capital fund Faith Capital Holding has announced a strategic investment in the most recent financing round for Justmop, the Dubai-based on-demand cleaning services platform. The investment by Faith Capital signifies strong belief in the booming home cleaning sector and the exceptional team of entrepreneurs behind the start-up.
Faith Capital is driving its ongoing expansion of the technology company which is transforming the regional laundry business. This investment will create clear synergies between JustClean and Justmop, and signifies a strong belief in both industries alike.
“We’re pleased to confirm our investment in Justmop, because we believe in this space and its capacity to grow,” said Faith Capital and JustClean’s CEO, Mohammed Jaffar.
JustClean offers B2B and B2C services including a laundry marketplace application, SaaS (software as a service) and a growing logistics operation in the UAE, Kuwait, Bahrain, and Saudi Arabia.
JustClean which is revolutionizing the laundry business in the Arabian Gulf region by taking it, and shaking it up, online. Every day, growing numbers of consumers use the JustClean platform to get their laundry done, thanks to a “click and easy” process delivering wash and iron, dry clean and many more solutions from hundreds of laundries.
Currently operating in GCC, JustClean will expand into other international markets early next year. Established in 2016, JustClean represents the vision of brothers and co-founders Athbi and Nouri Al Enezi to create an organized laundry marketplace where people, through a simple click, can choose their required laundry service from a concise pre-selected list.
Inspired by growing e-commerce business in the region and the lack of technology available to “do the laundry”, they developed a highly functional App which has moved a traditional industry from offline to the thriving eMarket place.
JustClean has revolutionized a traditional off-line service to make it user friendly, convenient and hassle free for consumers, at the same time giving laundry service providers who sign up access to a huge customer base.
Originally launched in Kuwait in 2016 under the brand name MASBAGTI – meaning ‘my laundry’ in Arabic – the company attracted investment a year later by Faith Capital Holding, the Kuwait-based venture capital fund.
As a result of the investment of Faith Capital Holding, Deputy Chairman and CEO, Mohammad Jaffar, was installed as CEO of the startup, and the brand name was changed to JustClean in the face of strong demand for the new App service, allowing the brand to scale with the new name.
In February 2019 Faith Capital announced it had closed a $8 million Series A round of financing in the company, enabling its growth across the GCC region, while also expanding the logistics and SaaS arms of the business. JustClean has since invested in its B2B outreach by introducing a laundry management solution, as well as logistical support for the vendors in its marketplace, as part of plans to stand out from the competition as it expands.
JustClean recently earned top-level recognition for its emergence as a dynamic force giving a new dimension to the laundry business in the Gulf region.
The Kuwait-based company was also honored at last month’s Arabian Business Awards 2019 in Dubai as a home-grown brand achieving great success in a short time, and one driven by ambitious expansion plans.