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Clearent strengthens its offering within the dry-cleaning industry, buys stake in global SaaS business CleanCloud

Transaction extends Clearent's reach to cover the entire spectrum of dry-cleaning customers

ST. LOUIS (June 17, 2019): Payments solutions provider Clearent has taken a minority stake in CleanCloud, a global software-as-a-service (SaaS) business. Clearent Software Holdings (CSH), a wholly owned subsidiary of St. Louis-based Clearent, announced its latest move toward providing the highest quality, best-priced and most user-friendly range of solutions to customers of all sizes, from small, family-owned stores to enterprise cleaners.

CleanCloud, a global SaaS business servicing dry cleaners and laundromats, primarily serves small, independent, multi-store businesses but also serves larger chains outside the U.S. The CleanCloud app is available via monthly subscription fee to customers on iOS and Android devices. The app includes a CRM function to improve the end-user experience by allowing the end-user to place laundry orders via their mobile device. CleanCloud credits the app as the key reason the company has increased revenues tenfold since 2015.

The tools and online reach provided by CleanCloud allow smaller operators to compete with the industry giants, including well-funded on-demand disruptors with significant marketing budgets and, often, highly developed infrastructure. CleanCloud regularly rolls out new features, ensuring users have the most advanced software solution at their disposal. As a result, users can see a significant increase in their year-on-year turnover, on average.

Clearent Software Holdings was established as a subsidiary to Clearent to encompass a number of independent software vendors so that it can leverage Clearent's strengths as a payment processor as well as the collective resources of associated SaaS solution providers.

This latest transaction bolsters Clearent Software Holdings' portfolio of independent software vendors in the dry-cleaning industry and helps further its goal to become the leading player in the US laundry software market. CleanCloud will operate alongside SPOT Business Systems, benefiting each other by sharing best practices and lead generation, while continuing to operate as independent companies.

"Aligning with CleanCloud has taken Clearent Software Holdings’ efforts in the dry-cleaning industry to the next level," said Dan Geraty, CEO of Clearent. "As a result of our investment in CleanCloud, not only have we firmly established an international presence in this exciting, growing industry, but we also have enhanced our ability to provide the right service, at the right time and at the best possible price to dry-cleaning companies of all sizes across the enterprise spectrum."

John Buni, co-founder and CEO of CleanCloud, said: "It's great to team up with Clearent as we continue our drive to sign up users across the United States. The stores using our software are generational businesses, with great stories and heritage. What we are doing is applying a technology platform which helps people to sell, manage, report on and grow their businesses."

About CleanCloud

CleanCloud is a SaaS business serving dry cleaners and laundromats in 70 countries. It provides these businesses with the digital infrastructure needed to streamline their processes, to more effectively manage their sales, and ultimately to better service their customers. CleanCloud's users are predominantly small, independent and family-run businesses.

The London-based company, founded in 2014 by serial entrepreneurs John Buni and David Griffith-Jones, was conceived following a poor customer experience which lead Buni to believe that tech could support these SMEs to grow, develop and thrive. CleanCloud is responding to a period of major upheaval in the industry, including the growth of pick-up-and-delivery services, which has threatened the livelihoods of established operators. For more information, or to arrange an interview with CleanCloud's co-founder John Buni, please contact Andy Williams on andy.williams@sonderassociates.com, or call +44 7502 215320.

About Clearent

Clearent is a full-service, payments solution provider with more than 400 employees, 45,000 merchants and $16 billion in processing volume. From traditional point-of-sale terminals, mobile solutions and tablet-based systems to a custom-built virtual terminal, e-commerce plug-ins and hosted payments, Clearent helps small-business owners securely accept payments just about anywhere. It prides itself on offering the very latest services, competitively priced, with an excellent track record of customer service.

Headquartered in St. Louis, Missouri, the company has consistently been named to several prestigious lists year after year, including the Inc. 5000 list of fastest-growing companies, The Nilson Report's list of top U.S. acquirers, The St. Louis Post-Dispatch Top Workplaces award and the St. Louis Business Journal's list of fastest growing private companies. To learn more, visit clearent.com.