On-demand laundry service Zipjet has secured ‘a seven-figure’ investment sum from Henkel Ventures and BSH Home Appliances Group.
The extended Series B funding comes amid claims Zipjet has seen its revenue increase by 40% year-on-year.
The money will be used to develop Zipjet’s business and products in London, Paris and Berlin, and extend its data science team, as well as increasing the marketing budget.
Founded by Florian Färber and Lorenzo Franzi in London in 2014, the company then expanded to Berlin in 2015 and Paris in 2016.
Florian Färber, managing director of Zipjet, commented on the announcement: “This investment is about much more than money, it’s a strategic play with some of the world’s largest producers of washing machines and detergents. We will be able to collaborate on several projects, enabling us to service more customers and develop our product offering.
“We’ve adopted a city-centric model which is focused on providing the best and fastest service to areas of high population density. This approach has paid dividends – revenue growth is very strong and this investment will give us the fuel we need to accelerate our growth further,” he added.
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Zipjet claims it can clean, iron, fold and deliver clothes to customers in as little as 24 hours.
The app offers a range of laundry and dry cleaning services for convenient pickup and delivery slots.
The investment also marks the beginning of a partnership between new investor BSH and Zipjet; where BSH will join Zipjet’s board.
Henkel Ventures, the investment arm of chemical and FMCG company Henkel, has invested in Zipjet three times. Amsterdam Venture Partners also contributed to the funding round.
Uwe Blanarsch-Simon, vice president technical product management at BSH Home Appliances, said: “Our goal is to serve our consumers with innovative appliances and solutions that make their everyday life easier and more enjoyable. The cooperation with Zipjet is a perfect complement for our core business in the laundry care section”.
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