Kuwait-based technology company JustClean is planning further expansion in Saudi Arabia before launching in Europe and ultimately going public, according to the firm’s founders.
Established in 2016, JustClean gives customers access to a variety of laundry services through an easy-to-use app that connects them to hundreds of laundries around the region.
In an interview with Arabian Business, managing partner and co-founder Athbi Al Enezi said that the firm’s rapid expansion will next see it launch in parts of Saudi Arabia where the service is yet to operate.
“This time last year we were only actually live and active in Kuwait. A year later, we’re live in Kuwait, and the whole of the UAE, and we’ve expanded to the Eastern Province of Saudi Arabia,” he said. “This coming month we’ll be live in Jeddah and Riyadh. – JustClean also operates in Bahrain and Qatar, Al Enezi added.
Faith Capital deputy chairman and CEO Mohamed Nabil Jaffar – who was installed as CEO of JustClean after the venture capital fund invested in the firm in 2017 – said that JustClean is also eying expansion into a number of European markets, although he did not specify which ones.
“The story will look a lot better if we control the market from all directions. Can we end up penetrating European markets? That’s the challenge that we would like,” he said. “We’re working hard to upgrade our product to be ready to enter key cities in Europe.”
Additionally, Jaffar said that JustClean is “absolutely” planning to launch an IPO in the next several years. “That’s something we’re working very hard for and we’re trying to grow the company to levels where it becomes a possibility,” he said.
In February 2019, Faith Capital announced it had closed a $8 million Series A round of financing in the company, allowing it to expand in the GCC and bolster the logistics and SaaS (software as a service) arms of the business.
