Spanish laundry cleaning and home delivery startup Mr Jeff raises €10.4 million ($12 million) in a Series A round led by All Iron Ventures.
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The startup, created in 2016 by CEO Eloi Gómez, CTO Adrián Lorenzo, and COO Mexico Rubén Muñoz, aims to consolidate existing markets, develop its business in new markets, and increase its team by incorporating international talent.
“This important Series A demonstrates the consolidation of the business model and the support of the team that is part of Mr Jeff,” said Gómez, CEO and co-founder, in a statement.
“Our good results have been key to earn us, once again, the confidence of investors. We have shown that the Mr Jeff business model and its network of franchises is a validated project in a strategic sector, and that offers the opportunity to create a replicable model in fragmented industries,” he added.
Mr Jeff offers home laundry and dry cleaning services in seven countries, where it has already opened 1,000 franchises in less than a year and expects to finish 2019 with operations in 30 countries.
The team has experienced exponential growth, and currently has more than 150 direct employees and more than 2,400 indirect employees.
Last August, the company acquired Lava é Leva, the largest laundry franchise in Brazil with more than 350 points of sale.
“The purchase of Lava é Leva meant the entrance to one of our main markets and facilitated the understanding of the country,” explained Gómez.
The Series A adds to €3 million ($3.5 million) from previous operations, from European entrepreneurs such as Albert Armengol (CEO of Doctoralia), Jeroen Merchiers (Managing Director of Airbnb Europe, Middle East and Africa), and Kim Jung (CEO NX Corp).
Most of them have gone back to betting on Mr Jeff and invested again in this Series A.
“The investors who trust Mr Jeff are mostly entrepreneurs who have already triumphed with their companies and who recognize in our project the necessary keys to achieve success,” added Gómez.
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