Washlava, a mobile technology startup that enables enhanced shared laundry services, continues its capital markets momentum, today announcing the closing of a highly unique non-dilutive growth financing in excess of $5 million. The transaction was sourced through Washlava’s financial advisor, Skyway Capital Markets, LLC, and is the second growth financing Washlava has closed in the past 90 days.
The proceeds from the financing will enable Washlava to fuel research and development to support its goal of transforming the self-service laundry industry through its proprietary smartphone-enabled technology platform. Washlava’s digital brand creates a connected and convenient laundry experience for businesses and their customers, reaching beyond shared laundry centers to include educational housing, multi-family housing units, and Marriott Hotels.
“As a rapidly growing company, it was important that we found a capital partner who could accommodate our unique set of circumstances, including a significantly accelerated timeline and a high degree of certainty of closing,” said Todd Belveal, founder and CEO. “this financing will allow us to significantly enhance our valuation and further serve our customers, employees, and shareholders.”