Kuwait's Religious Capital declares an $8 million investment in its laundry marketplace, JustClean

JustClean, a leading laundry services marketplace, is set to accelerate its growth and expand into new areas of the cleaning sector, following an $8 million investment from Faith Capital.

The investment comes as the company continues to grow rapidly in its main business lines, having been acquired by Faith Capital in 2017. Founded in 2016 as Masbagti by Athbi Al-Enezi and Nouri Al-Enezi, JustClean has since established a strong presence in Kuwait, UAE, Bahrain, Saudi, and Qatar.

Mohammed Jaffar, Deputy Chairman and CEO of Faith Capital, serves as CEO of JustClean. Jaffar is well-known for his successful ventures, having previously acquired Talabat in 2010 and selling it to Delivery Hero for $170 million in 2015.

With the fresh capital injection, JustClean plans to expand its operations into the laundry sector in Germany and Switzerland. This move is part of the company's strategy to diversify its services and cater to a wider market.

Faith Capital, established in 2016, is one of the few venture capitalists in the region that invests in tech startups and acquires some to build and grow them. The investment in JustClean is a testament to the company's potential and Faith Capital's commitment to supporting innovative businesses.

JustClean's growth trajectory is a positive sign for the laundry services market, indicating a shift towards digital solutions for traditional services. With its user-friendly platform and reliable service, JustClean is poised to make a significant impact in the industry.

Kuwait's Religious Capital declares an $8 million investment in its laundry marketplace, JustClean