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124%
Raised
£186,020
Investors
239
Target
£150,000
Equity
17.96%
Pre-money valuation
£850,000

Founded in 2014, Love2Laundry is a digital laundry and dry-cleaning delivery service that has grown to over 5,000 members and already covers 58% of London. Through their app and website, the business has received over 35,000 orders to date and has grown by 100% year on year.

  • Profitable every year since incorporation from only £20k investment
  • Plans to cover 90% of London by the end of 2017
  • Already partnering with residential blocks and convenience stores
  • Operating in a market worth £1b in the UK alone.

Idea

Love2Laundry is a laundry and dry-cleaning delivery service that solves the chore of cleaning clothes with a single click. Founded in 2014, we have grown to over 5,000 members and cover 58% of London locations. The average urbanite spends 10 hours per month doing laundry - time that we want to give back to them.

Scheduled from our simple app and website: we collect, clean, fold, and return our customers' laundry - all within 24 hours. Our software automates the entire logistics chain, and it is this efficiency which allows us to stay price competitive - our prices start at £1.65 / kg of laundry.

The UK laundry sector, including dry cleaning and other cleaning services, is worth around £1 billion, and between 2011 and 2016, the market grew by 0.7% annually. Mobile commerce is growing at around 25% year-on-year, and it is this trend that we have so far capitalised on.

We work with a simple goal in mind, to make it easy for all Londoners to get their dry-cleaning and laundry done by offering convenient and affordable services.

Current Traction

* 5,000 Members and growing

* 35,000 orders and growing

* Turned a profit every year

* Washed 120,000 kgs of laundry

* Dry-cleaned 300,000 items

* 70,000 carbon emission free miles driven by our eco friendly delivery vans

* Installation of laundry lockers in several large developments and partnership agreements with the concierges

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Risk warning

Investments of this nature carry risks to your capital, including illiquidity, lack of dividends and dilution. Balance risk with a diversified portfolio. Read more. Approved as a financial promotion by Crowdcube Capital Limited, which is authorised and regulated by the Financial Conduct Authority.

Investment opportunities are not offers to the public and investors must be eligible Crowdcube members. Further restrictions and Crowdcube's limitation of liability are set out in the Investor Terms and Conditions. Please seek independent advice as required as Crowdcube does not give investment or tax advice.

Love2Laundry has been given advance assurance by HMRC that the proposed share issue is likely to qualify for Enterprise Investment Scheme (EIS) tax relief.

Tax relief is available to individuals only, with income tax relief currently set at 30 per cent of the cost of the shares for the tax year in which the investment was made. The tax reliefs can also reduce your Capital Gains Tax bill. Read More.

Availability of tax relief depends on your individual and the company’s ongoing circumstances and applicable law.