Faith Capital Closes Series A Investment In JustClean
KUWAIT CITY, 24 FEBRUARY 2019 — Faith Capital announced today the recent close of a $8.0m (KWD 2.45m) Series A round of financing in JustClean, a Kuwaiti laundry technology startup, in order to expand ongoing GCC marketplace operations, in addition to expanding B2B logistics and SaaS initiatives. Additionally, JustClean will be pursuing strategic partnerships with other regional startups in the cleaning sector.
Having been founded in 2016, JustClean has expanded its laundry marketplace operations from being a B2C model active only in Kuwait, to a B2C model with active users in Kuwait, Bahrain, and the UAE, in addition to rolling out logistical support for marketplace vendors and a recently launched Point of Sale and comprehensive laundry management software solution. JustClean intends to roll out a full suite of these services in Qatar by the end of the year, in addition to a gradual Saudi launch of the SaaS product.
“JustClean has differentiated itself from regional competitors by offering technological solutions to problems faced not just by consumers, but by operators of laundry businesses as well,” says Athbi Al-Enezi, a Co-Founder of JustClean. “The user experience is of paramount importance to everyone in this market, however, we’ve seen most of our competitors completely neglect the B2B value chain. JustClean will cater to both B2B and B2C segments, and intends to ultimately be the solution provider of choice for cleaning business owners across the MENA region.”
“As the first and only institutional investors in JustClean, Faith Capital is dedicated to succeeding in the GCC cleaning sector with the help of our expansive resources, including advisory team members with decades of combined experience in operating and scaling businesses in challenging competitive environments,” says Mohammed Jaffar, the CEO of Faith Capital and JustClean. “Our past entrepreneurial experience in this region has left us well-equipped to scale JustClean regionally.”
“We have spent the last few months hiring additional resources for JustClean in a wide variety of positions from across the MENA region to ensure that we are well-positioned for success, “says Nouri Al-Enezi, a Co-Founder of JustClean. “It is with great pride that we say that JustClean is now home to one of the most sophisticated startup teams in the MENA ecosystem.”