Charlotte Laundry Services Start-up 2U Laundry Raises $2.5 Million

9/8/17

2U Laundry Inc., a laundry services start-up based in Charlotte, has raised $2.5 million from four investors, according to a filing with the Securities and Exchange Commission.

Launched in 2015, the company previously raised money nearly a year ago.

In November 2016, it raised $400,000 from 11 investors. In both transactions, the minimum investment accepted from outside investors was $5,000 and were not made in connection with a business combination transaction, such as a merger, acquisition or exchange offer.

The idea for 2U was the result of a student project at Wake Forest University, where the founders Dan Daquisto, Alex Smereczniak, and Caleb Lamb, were aware that no one really likes doing laundry and wanted to offer a service so no one had to.

Smerecniak, co-founder and chief executive officer of 2U Laundry, graduated from Wake Forest with a B.S. in finance in 2014. Before leading 2u, he worked as a financial services consultant at EY after selling another successful laundry services company.

The company operates its own cleaning facilities that focuses on being environmentally responsible through the use of a recyclable hanger program, hypoallergenic detergent, and biodegradable reusable bags. 2u offers wash, dry and fold, wash and hang dry, or dry clean and press services.

Private companies relying on a Reg D exemption do not have to register their offering of securities with the SEC, but must file a Form D electronically with the SEC after they sell its securities.

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