Oct 23, 2023

Copyright: Techrete.com - image credit: Love2Laundry A tech-enabled laundry start-up with operations across the UK has been acquired by New York-based ByNext. Since its initial launch in London, Love2Laundry has expanded to operate in Manchester, Birmingham, Bolton, Bury, and Oxford within the UK and also six international countries. The move is part of the ByNext strategy to expand its omni-services and omni-channel business both organically and through roll-ups within the US and globally. Nadeem Abbas, founder and chief executive of Love2Laundry, said: "This merger, a testament to our collective strength and shared vision, embarks on a path of unprecedented growth and innovation, leveraging ByNext's advanced cloud-based platform to elevate the services we offer to our customers. "As I continue to lead the ByNext international arm under the Love2Laundry brand, our mission remains clear: to foster innovation and deliver unparalleled service, offering more value to our shareholders while embracing the numerous opportunities this collaboration unveils." Kam Saifi, chief executive of ByNext, added: "We consider the Love2Laundry acquisition strategic for many reasons. "In addition to having complementary technology to the ByNext platform, we will onboard a management team with a wealth of experience in the operation and marking of laundry services in the international arena as well as gaining immediate market penetration in the UK market. "The Love2Laundry team has implemented a very low-cost operation relative to the rest of the marketplace. We are confident we are able to adopt these processes into the ByNext operation and further improve the company's operational and financial efficiencies." Mirco Bulega, a hedge fund manager and investor in Love2Laundry, said: "As someone who's experienced Love2Laundry's service first hand, this merger speaks volumes about its efficiency and potential. I'm thrilled to see how ByNext integrates this expertise in its global strategy."