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Business Observer Wednesday, Sep. 4, 2019 1 month ago

Laundry tech startup raises more than $5M

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Investment firm Skyway Capital Markets LLC helped secure the funding for Tampa-based Washlava.

TAMPA — Tech firm Washlava has secured more than $5 million in non-dilutive growth financing.

Founded in 2015 by Todd Belveal, the Tampa-based startup specializes in a mobile platform designed to improve the self-service laundry experience. Its patented service allows laundromat customers to reserve and pay for laundry machines using their smartphones.

According to a press release, Skyway Capital Markets LLC, also based in Tampa, sourced the funds, which will fuel research and development at Washlava. 

“As a rapidly growing company, it was important that we find a capital partner who could accommodate our unique set of circumstances, including a significantly accelerated timeline and a high degree of certainty of closing,” states Belveal, who also serves as the firm's CEO, in the release. “This financing will allow us to significantly enhance our valuation and further serve our customers, employees and shareholders.”

 

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