Justclean raises $6M from GIC
The on-demand cleaning service with regional coverage and global aspirations, Justclean raises $6M from The Gulf Investment Corporation (GIC) to expand its market reach and delve into intricate and comprehensive product offerings.
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Cleaning marketplace platform justclean announced it has raised $6 million led by Gulf Investment Corporation (GIC) with the participation of regional investors. The fresh round of investment coincides with the launch of a new car wash proposition, offering the service to car owners either at home or in stations in the UAE, Kuwait, Bahrain, and recently in KSA. The vertical expansion is part of justclean’s ambitious plans to dominate the industry, which will continue with a rollout of the newly launched service in Qatar.
Founded in 2016, JustClean has expanded its laundry marketplace operations from being a B2C model active only in Kuwait to B2B& B2C models with active users in Kuwait, Bahrain, and the UAE, in addition to rolling out logistical support for marketplace vendors, Point of Sale, and a 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.
Major wins for the enterprise software solutions industry in MENA have been recorded, with a highlight Mega Round ($100M+) by KSA-based Cloud Communication Tech startup Unifonic (Saudi’s first-ever Mega Deal) in 2021, and the acquisition of Lebanese Digital Identity Management & Security startup Myki by US-based JumpCloud earlier this year. As recorded in our MENA 2022 Venture Investment Report, the enterprise software industry in MENA observed a 1053% YoY increase in capital investment to near the $200M in 2021- putting the industry as the 5th-most funded industry in MENA in 2021 after Mega Rounds in T&L with Halan, and F&B with Kitopi also drove phenomenal growth in their respective industries.
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The Al Enezi brothers, who developed the justclean concept in 2016, believe there is further scope to develop the technology and an expanded suite of services, beyond purely laundry and car wash services, which will ensure that justclean becomes the go-to-app for the cleaning industry globally, not just in the GCC. Athbi Al Enezi, CEO of justclean who co-founded the company with his brother, Nouri Al Enezi, commented, “We’re thrilled to have GIC lead this round as this will give our expansion plans a massive boost. With the close of this latest funding round, we will further enhance the platform and diversify our service offerings, turning justclean into a super app for the cleaning industry. We are massively excited about this considerable financial injection which will enable us to realize our ambitions and take the company into a dynamic new era of achievement and growth.”
GIC’s investment in justclean is a further testament to its interest in home-grown startups and its growing investment portfolio in the digital economy space. With regards to its portfolio of technology startups, GIC looks to identify leaders in the GCC technology space and support them on their journey to becoming regional champions. To GIC, justclean is a good example of such a startup addressing a relatively offline market with an innovative offering and an impressive team. “This second tranche of funding follows an initial injection from Faith Capital, whose support was critical in enabling the platform to prosper during the early stages of its operations. For this second round, we have been very encouraged by the interest received from reputable investors and financial institutions from across the region. GIC ‘s offering was in complete alignment with our vision; the intention to become the top marketplace platform for the cleaning industry. When people think of clean, we want them to think of justclean,” Al Enezi adds.
The $3 billion cleaning industry in the Gulf region is driven mostly by independent service providers. justclean was among the first to digitize the service, consolidating offline operators into a simple to use platform that now includes some of the biggest cleaning companies in the region and a massive user base that will grow further as the company introduces enhanced services and enters new markets. The capital boost will enable justclean to accelerate its growth plans to expand its cleaning services within the GCC, where it has become the leading cleaning marketplace app, in addition to being the top Software as a Service (SaaS) and logistics service provider in the cleaning industry. “It’s a hugely exciting time to be in this company and in this sector, where there continues to be high demand for a service that is so universal and offers the ultimate in access and convenience. We are enhancing the technology and rolling out new services that will make us the go-to app for the laundry and cleaning sector and we are looking forward to fulfilling our global ambition,” enthuses Nouri Al Enezi, deputy CEO.
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