For an undisclosed sum, fintech startup PayRange purchased Turns, a vertical SaaS startup in the laundry industry.
Through this acquisition, Turns’ laundry management software and PayRange’s machine payment system will be combined to increase services in the US laundromat market. The platform will offer tools for point-of-sale, payments, pickup and delivery, and business management.
PayRange offers a network of interconnected solutions for commerce, identity verification, and payment processing. It helps operators streamline operations, control revenue, and cut costs.
Turns, which was founded by Sukanth Srivastav and Vishal Gupta, offers laundromats a hardware-and software-integrated platform that includes accounting, employee management, point-of-sale, customer management, payment processing, logistics, and compliance.
“Our platform was created to change how laundromats are managed. Now, with PayRange, we can do this on a larger scale and share our vision for the future of the laundromat business,” Srivastav stated.
Turns raised $500K in a pre-seed round earlier in January 2023, which was led by Better Capital and included participation from angel investors and PointOne Capital.
