Cents announces New Fundraising Round

Cents – a business management and in-store operations platform for laundromat owners to start, manage and grow their business, recently announced a $4.25 million financing round.

The company provides a single-solution “business in a box” system that powers the processes of a laundromat or drycleaning operation, including POS, delivery, employee management, CRM, revenue reconciliation, pickup and delivery, and hardware integrations. According to the enterprise, the system can help laundry owners to increase revenue, optimize operational efficiency and expand into new markets with delivery. The company noted that although the garment-care industry is one of the only major Main Street businesses to be underserved by modern, verticalized software, COVID-19 has acted as an accelerant to the already fast-growing industry trends of full-service laundry, pickup-and-delivery, touchless payments, and the importance of centralizing operational data and operations.

Since the pandemic has changed consumer trends and expectations, small-business owners who witness these shifts in retail operations, are eager to try to get ahead of the curve.

The Cents platform states to have achieved substantial growth in the garment-care marketplace, with its system currently in use in more than 100 laundromats and drycleaners across eight US states. The company expects to be supporting more than 1,000 stores by the end of 2021.