LG Electronics leads investment in Cashless, Mobile Shared Laundry Environment

LG Electronics is leading a group of investors in a new round of funding for Washlava, a startup mobile technology firm that enables consumers to pay for their cashless laundry with a smartphone. Thus managing the end-to-end experience for both business owners and their customers, cultivating a cashless laundry network. Similar to the creation of cashless convenience stores, Washlava has created a digital environment and product that offers a connected and convenient consumer experience.

The startup – founded by Todd Belveal, the co-founder of Silvercar – created the cashless laundromat company in 2017 and now works with a range of partners, including Monmouth University in New Jersey, multifamily housing units in Texas and Florida and shared laundry centers in six cities across the country.

LG Electronics has long been a leading player in the personal laundry market, creating machines that range from basic washers and dryers to fully integrated smart solutions with a range of clothing care options. The company’s investment in Washlava will add to the strengths of each company, helping them both create future-oriented solutions that reach the next generation of users.