Laundry services provider Wassup has announced the launch of Hyderabad operations following the acquisition of Ezeewash in a structured full equity deal. The company said it was in negotiations to make three more acquisitions.
Ezeewash has been in operation for three years in Hyderabad and has serviced over 8,000 customers and currently handles over 100 orders per day. With this acquisition, Wassup On demand Laundry Convenience services will be available in Hyderabad and Secunderabad.
The on-demand convenience brand Wassup, co-founded by Balachandar R and Durga Das in 2011, offers laundry, dry cleaning, shoe and bag refurbishment across seven cities of Benguluru, Delhi, Gurgaon, Mumbai, Chennai, Cochin and Pune.
It has 50 aggregating hubs where the garments can also be dropped off by the customer and plans to add 50 more over the next 4-5 months through the franchisee model.
Balachandar, co-founder and CEO, Wassup, said “We will continue to grow organically and also through acquisitions across other cities. We are addressing a market in India that today stands at $ 34 billion, which includes both the organised and the unorganised segment and we see a huge potential where technology and modernisation can change the industry completely.”
He said Ezeewash is the second company that Wassup has acquired and is also negotiating three more acquisitions. Earlier Wassup had acquired Chamak.
Durga Das, co-founder and MD, said, “Wassup finds a good fit with the Ezeewash team who are techie entrepreneurs. We will look forward to bringing in like minded people into our Wassup platform through full equity acquisitions for mutual benefit.”
Investors in Wassup include Anil Jain (MD, Refex Energy), B S Nagesh (Founder-Trrain, Vice-Chairman-Shoppers Stop), and Praveen Sinha (Founder-Jabong).
Wassup has been an approved laundry partner for leading hospitality brands like Taj, Oberoi, Marriott, Sheraton, Radisson, Ascott and Holiday Inn to name a few.