By Sam Bridge
Faith Capital Holding announces investment in Justmop as it targets booming home cleaning sector
Kuwait-based venture capital fund Faith Capital Holding has announced an investment alongside four other major investors in the most recent financing round for Justmop, the Dubai-based on-demand cleaning services platform.
Faith Capital said the investment signifies strong belief in the booming home cleaning sector and the team of entrepreneurs behind the start-up, without disclosing a value.
As the major shareholder in JustClean, Faith Capital said it is currently driving their ongoing expansion of the company.
“We’re pleased to confirm our investment in Justmop, because we believe in this space and its capacity to grow,” said Faith Capital and JustClean’s CEO Mohammed Jaffar.
“We believe equally in the company’s synergies with JustClean, and together we share a commitment to bring advancement in an industry that has historically been run without technology.”
Currently operational in 11 cities around the GCC, Justmop allows its users to schedule weekly, bi-weekly or one-off cleaning appointments.
Justmop’s co-founder and CEO, Ali Cagatay Ozcan, said: “With the momentum we gain through Faith Capital’s investment, we are now at a quantum leap stage to digitally transform the GCC’s $2.5 billion home cleaning industry. This digitalization opportunity is massive and untapped, and we are going to work hard to advance our region into the digital future.”
Kerem Kuyucu, also co-founder of Justmop added: “We believe this partnership will enable us to achieve our vision of creating the go-to platform for anything related to home services. With this investment, we enter an era where we sharply focus on the disruption of the conventional home cleaning space.”For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.