US payments provider takes stake in London dry-cleaning tech firm
Payments solutions provider Clearent has taken a minority stake in dry-cleaning tech firm CleanCloud.
This boosts Clearent Software Holdings’ portfolio of independent software vendors in the dry-cleaning industry with the aim to become the leading player in the US laundry software market.
CleanCloud will operate alongside SPOT Business Systems, benefiting each other by sharing best practices and lead generation, while continuing to operate as independent companies.
The global SaaS business servicing dry cleaners and laundromats primarily serves small, independent, multi-store businesses but also serves larger chains outside the US.
The app allows the user to place laundry orders via their mobile device, which CleanCloud credits as the key reason the company has increased revenues tenfold since 2015.
“Aligning with CleanCloud has taken Clearent Software Holdings’ efforts in the dry-cleaning industry to the next level,” said Dan Geraty, CEO of Clearent.
“As a result of our investment in CleanCloud, not only have we firmly established an international presence in this exciting, growing industry, but we also have enhanced our ability to provide the right service, at the right time and at the best possible price to dry-cleaning companies of all sizes across the enterprise spectrum.”
John Buni, co-founder and CEO of CleanCloud, said: “It’s great to team up with Clearent as we continue our drive to sign up users across the United States.
“The stores using our software are generational businesses, with great stories and heritage - what we are doing is applying a technology platform which helps people to sell, manage, report on and grow their businesses.”