K Cube ventures and Stone Bridge Capital invest into Korean O2O laundry service startup Washon

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Mobile, Game and Technology investment specialist, K Cube Ventures and Stone Bridge Capital have invested US$860k (KRW 1b) into Washon, a laundry service operator. Washon is an on-demand laundry service allowing its users to select collection and return times that are most convenient for them. This O2O (online to offline) came to fruition after Chae J00 Byung, an experienced laundry operator joined forces with IT professionals with experiences working with Naver, Oracle and other Korean IT companies.

Washon currently operates in the Sungnam district of Seoul, after prioritizing the emphasis on service quality rather than expanding the regional coverage. So far the company is bringing innovation to the laundry service industry, whilst delivering a level of service unable to be matched by competitors.

Washon serviced laundry are thoroughly inspected before release and they are able to deliver a high level of service at competitive prices. The service is a first of its kind and allows users to select the laundry location and provides access to an accident compensation system. At the distribution centre, the laundry undergoes another quality check before dispatch.

Washon is currently working on the development of managing the interface with the customer upon delivery. The development is driven by the recognition for the importance of customer service and maintaining employee education that develops customer services techniques.

Washon will utilize this investment to expand their laundry service factory and introduce new services, including a premium laundry service, wash and fold service, car seat service, baby pram laundry service, and clothing alteration service. Washon will also look at increasing their service range from Sungnam district to other Seoul districts.

Chae Joo Byung from Washon commented, “The modern family find the home duty labour to be cumbersome and our laundry service will assist time poor families. We also wish to increase our services into home care services”.

Jung Shin Ah, the representative from K Cube Ventures commented, “Washon have an established reputation and knowledge of the laundry service industry”. “The way in which Washon delivers their service is a paradigm for the industry”.

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