Spinjoy

Get your laundry done while you shop.

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Security Type
Convertible Note
Categories
Retail, VC-Backed, Repeat Founder
Min Investment
$100
Location
Atlanta, , GA
Website
spinjoy.io

Key Deal Facts

Spinjoy's first five stores will open this year inside top-performing Walmart Supercenters in the US
Scales quickly with 500 leases planned by 2029 more than 2000 in ten years (3,572 US Supercenters)
Exclusive Walmart real estate partnership is a strong indicator of the brand's pre-revenue traction
Founder experience includes the invention of patented IoT technologies for automating laundry rooms
The founder also created an app-enabled airport car rental brand that exited to a German automaker
The first five stores are planned and permitted so construction can start immediately
Management is seasoned and multidisciplinary, with more than 125 years of relevant experience
The exit path is a private sale to strategic interests or private equity in 5 years or less

Management Team / Advisory Board Bios

VC-Backed
Raised $250K or more from a venture firm, Repeat Founder
Founder has started a previous company funded with $2M+, Todd Belveal President and CEOA serial entrepreneur, known for Silvercar, backed by Austin Ventures and Eduardo Saverin. Silvercar was named awarded Condé Nast Traveler's Most Loved Rental Car Company twice and the company was acquired by Audi AG in 2017. Holds 3 laundry patents., Taylor Doggett VP, InfrastructureExperienced laundry operator with a longstanding history of success in digital transformation and appliance fleet service and support., Timothy Woods VP, ConstructionAn experienced builder and contractor, he is also a high-performing project manager. He has demonstrated this in residential and commercial ventures, as well as retail laundry redevelopment projects for Laundryshare, Inc., Jim Whitlow VP, StoresA seasoned retail executive with extensive experience owning and operating service-intensive store operations., Todd Brower Director, Technology Platforms DevelopmentOne of the most experienced software, IoT and networking engineers you will find anywhere. Worked on both Silvercar and Washlava development teams, and prior to that held senior engineering roles at Lockheed working primarily on F-16 cockpit avionics., Geof CohlerDirector, Technology Platforms DevelopmentAn experienced software designer and developer, Geof wrote key components of Silvercar and Washlava patented software, IoT, and database solutions. Geof was previously a software engineer with Texas Instruments.
Amount Raised : $70,546
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Security Description

A convertible security is a security that can be converted into another security, typically equity in the next round of financing.

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