The startup plans to use the investment to lead the digitalisation of house-cleaning services and expand throughout the region.
Kuwaiti venture capital fund, Faith Capital Holding, announce their participation in the most recent financing round of Justmop, a Dubai-based house cleaning and home services marketplace startup. The amount of the investment and the entire funding round has not been disclosed to the public yet. Earlier in 2019, the startup closed their Series A round of funding, with participation from renowned capital firms such as OAK Capital and 500 Startups, gaining approximately “a few million dollars” in funding, according to several reports.
The Emarati startup has active operations in eleven major cities across six countries in the Gulf, and has reported an annual gross revenue of over $10 million and around 25% monthly growth in the last six months. Faith Capital has been a vital part in helping similar startups grow in the region with their investment in Kuwaiti laundry services startup, Justclean.
“Both Justclean and Justmop share a vision of a MENA cleaning sector made efficient by the introduction of both consumer and enterprise technology,” says Mohammed Jaffar, CEO and Deputy Chairman of Faith Capital Holding. “We believe that a close working relationship between our two companies will be the beginning of a new comprehensive set of cleaning services being offered to consumers across the region at a touch of a button.”
“We are going to work harder to realise our dream of digitalisation of the home-services space in the region. We’ll continue enhancing the customer experience while creating more employment opportunities for the less-privileged people around the globe,” says Kerem Kuyucu, co-founder of Justmop.
The startup not only plans to develop its software and build more sophisticated technologies, but also plans to scale-up vertically and expand geographically to lead the region’s cleaning industry.
“Handling the logistical aspect of mobilising and utilising third party assets on a marketplace is a tremendous task," says Nouri AlEnezi, co-founder of Justclean. Both Justclean and Justmop have put considerable resources into the technology to manage this task with one goal in mind, [which is] making the customer experience absolutely seamless.”
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