LG Electronics is leading the Series A-1 equity financing round for Washlava. Financial terms weren’t announced. Washlava’s technology allows customers to reserve and pay for laundry machines from their smartphones.
TAMPA, Fla., July 17, 2019 /PRNewswire/ — Innovative industry disrupters come in all shapes and sizes – from virtual reality for surgeries to self-driving AI – and today, mobile technology startup Washlava will take the next steps to further modernize the shared laundry experience. LG Electronics and Washlava have agreed to terms where LG will be the lead investor in a Series A-1 equity financing.
Washlava’s innovative technology allows customers to reserve and pay for laundry machines from their smartphones, managing the end-to-end experience for both business owners and their customers, cultivating a cashless laundry network. Similar to the creation of cashless convenience stores, Washlava has created a digital environment and product that offers a connected and convenient consumer experience.
LG Electronics has long been a leading player in the personal laundry market, creating machines that range from basic washers and dryers to fully integrated smart solutions with a range of clothing care options. LG Electronics’ investment in Washlava will play to the strengths of each company, helping them both create future-oriented solutions that reach the next generation of users.
“We could not be more excited about this important partnership with LG,” said Todd Belveal, founder and chief executive officer, Washlava. “LG’s capabilities and standing in the industry, combined with Washlava’s proprietary IoT technology and user experience, create a platform that cultivates growth and innovation in a market that is primed for modernization.”
Washlava’s services span across multiple verticals, utilizing strategic products and partnerships to offer the most streamlined and secure services to its customers. For example, Washlava’s entire platform is hosted on Amazon Web Services, and all credit card, debit card, and prepaid card transactions within the mobile app process through Stripe, a PCI Service Level Provider Level 1 company, ensuring that no credit card information ever touches the Washlava infrastructure. Also, Washlava is the exclusive laundry partner of CBORD, a Roper Technologies subsidiary and leading provider of commerce solutions in higher education, which means that students at select schools have the ability to use their student ID cards as a form of payment in the Washlava mobile app. Washlava allows users to reserve washers and dryers, receive notifications about the status of the machines, and pay via their smartphones.
Washlava, founded by Belveal and the group behind Silvercar (now owned by Audi), first launched its exclusively smartphone-enabled laundromat in 2017 in Tampa, Florida. Now, its shared laundry centers can be found in six cities across the country. Washlava continues to reach beyond shared laundry centers to include educational housing such as New Jersey’s Monmouth University; multi-family housing units in Austin, Texas, Tampa, Fl, and Orlando, FL; and Marriott Hotels like a Courtyard Mariott in Orlando, Florida.
To stay up to date on all Washlava news, follow them on Twitter and visit www.washlava.com.
Washlava is the laundry experience that lets customers reserve and pay for machines from their smartphones. Washlava intends to transform the self-service laundry industry through its patent-pending, smartphone-enabled technology platform and digital brand by creating a connected, convenient laundry experience for businesses and their customers. The company was founded by Todd Belveal, who previously co-founded the Austin-based, mobile-enabled car rental company, Silvercar (now owned by Audi). For more information, visit washlava.com.