The Spanish startup, Jeff, raised $21 million in a Series B financing round. Jeff is the global solution for entrepreneurs that offers everything they need to start a successful business under the umbrella of its globally recognized brand.
Aided by Jeff’s holistic support that includes technological business management and data intelligence tools, entrepreneurs can launch their own business choosing from the brand´s range of business lines: home-delivered laundry and dry cleaning, beauty, and fitness and wellness services.
Investment secured during this round will be used to kickstart the launch of Jeff operations in the United States and the opening of its first office in New York in January and the consolidation of its current markets and the development of its technological product for the entrepreneurs in the Jeff network including those in the Philippines.
“Faced with the current situation caused by the pandemic, the Jeff team is very proud of this financing round which demonstrates the trust placed by our investors in the project,” said Eloi Gómez, co-founder and CEO, Jeff. “We are very optimistic about the Philippines, as it is one of the markets that has recovered the fastest during the pandemic and is already presenting 17% more income than before COVID-19.”
This financing round has been led by All Iron Ventures, Alma Mundi Ventures, and FJLabs and investors from companies such as Alibaba, Dropbox, Uber, and Stripe. Entrepreneur Javier Rubio, through Alcor Ocean S.L. New Partners, also participated in this round, including Innvierte, CDTI investment vehicle along with existing partners Gomez Trenor Family, through Nalpa S.L and Addventure Venture Capital fund.
This Series B was achieved during the COVID-19 pandemic after Jeff raised $22 million in previous financing rounds.
Jeff is currently present in 40 countries in Latin America, Europe, Africa, the Middle East, and Southeast Asia and has more than 2,300 stores sold.
Solution for entrepreneurs
“Our solution fits all types of entrepreneurs: whether they want to own a business for self-employment reasons, or because they are looking for a profitable investment,” Gómez said.
In August 2018, Jeff acquired Lava e Leva, the largest laundry franchise in Brazil with more than 350 points of sale. With this acquisition, the management successfully consolidated the most important market in Latin America and one of the largest in the world.
In June 2019, they announced the evolution of their business model worldwide: from laundry and dry cleaning services app to an ecosystem for day-to-day services. This brought about a change in its corporate name, which became Jeff (from Mr Jeff) and which integrated all the business lines that the company had launched, and would launch in the future.
This evolution was also materialized thanks to two corporate operations linked to the launch of two new business lines: beauty and fitness. The acquisition of Entrenarme was announced, as well as its SpaceFit’ platform, which became part of Jeff under the name Fit Jeff. Likewise, the beauty line Beauty Jeff was developed through a collaboration agreement with Oh my Cut! Finally, in March of this year, the launch of the fourth business line, Relax Jeff, was announced.
All these services are offered to consumers in an omnichannel environment (web, app, and physical point of sale) that helps them to have “The Good, Good Life” while also giving back to neighborhoods and local businesses what digitization has taken away from them.