Kuwait’s Faith Capital announces $8 million investment in its laundry marketplace JustClean

Kuwait’s Faith Capital announces $8 million investment in its laundry marketplace JustClean

Kuwait-based Faith Capital has announced that it is investing $8 million in laundry services marketplace JustClean. It is a startup that was acquired by Faith Capital in 2017 so this is not an external investment round. It's more of a parent company injecting capital into its subsidiary. Faith Capital had announced the exact same amount of investment in JustClean last year as well.

Mohammed Jaffar, the Deputy Chairman and CEO of Faith Capital serves as CEO of JustClean. Jaffar had previously acquired Talabat from Abdulaziz Al Loughani (who is now a Managing Partner at Faith Capital) in 2010 before selling it to Delivery Hero for $170 million in 2015. Faith Capital, started in 2016, is one of the very few VCs in the region that not only invests in tech startups