PayRange, a leading fintech company specializing in mobile payment solutions for unattended retail, has acquired Turns, a Noida-based laundromat management startup, in a strategic move to expand its footprint in the U.S. laundromat industry. This acquisition aims to integrate Turns’ advanced software solutions with PayRange’s payment ecosystem, creating an industry-first platform that streamlines laundromat operations. While the financial details of the deal remain undisclosed, experts believe the partnership will significantly enhance business management capabilities for laundromat operators, enabling them to manage payments, logistics, employee scheduling, and customer engagement from a single platform. Turns, founded by Sukanth Srivastav and Vishal Gupta, had earlier secured $500,000 in a pre-seed funding round led by Better Capital. With this acquisition, PayRange and Turns are set to power over 5,000 laundromats across the U.S. in the next 24 months, driving unprecedented efficiency in the sector.
1. About Turns: Working Model, Revenue, and Funding Background
1.1 How Turns Works
Turns is an all-in-one laundromat management system that combines hardware and software solutions to optimize business operations. It offers features such as:
- Payment processing via mobile and card transactions.
- Point-of-sale (POS) integration for seamless billing.
- Pickup and delivery logistics for laundromats offering extended services.
- Employee scheduling and payroll management.
- Real-time business analytics for data-driven decision-making.
- Customer engagement tools to improve user experience.
1.2 Revenue Model
Turns operates on a SaaS-based revenue model, providing subscription-based services to laundromat owners. The platform charges:
- Monthly subscription fees based on the number of machines and services.
- Transaction-based revenue on payment processing.
- Premium features for larger laundromats needing advanced automation.
1.3 Founders and Funding History
Turns was founded by Sukanth Srivastav and Vishal Gupta with the goal of simplifying laundromat management. In January 2023, Turns raised $500,000 in a pre-seed funding round led by Better Capital, with participation from PointOne Capital and angel investors. This funding enabled the company to refine its platform and expand its market presence.
2. Why PayRange Acquired Turns
2.1 PayRange’s Vision for Expansion
PayRange is known for its mobile payment solutions for vending machines, laundromats, and other unattended retail sectors. By acquiring Turns, PayRange aims to provide laundromat operators with a fully integrated business management system.
2.2 Key Benefits of the Acquisition
- Complete Business Integration – The combined platform will unify machine payments, POS, payroll, and logistics.
- Cost Reduction – By eliminating the need for multiple software solutions, laundromat owners can reduce operational costs.
- Improved Customer Experience – Consumers will benefit from streamlined services, better scheduling, and multiple payment options.
- Scalability – The system will enable small laundromats to grow into multi-location businesses with ease.
3. How This Acquisition Will Transform the Laundromat Industry
3.1 Unifying Payment and Business Operations
Until now, laundromats had to rely on separate payment processing, business management, and customer engagement platforms. The integration of Turns into PayRange will simplify operations by offering a one-stop solution.
3.2 Adoption of Smart Technology
With PayRange’s proprietary IoT technology, laundromats will benefit from:
- Mobile payment systems for cashless transactions.
- AI-driven machine maintenance and predictive analytics.
- Real-time data tracking to optimize business performance.
3.3 Growth Potential for the Industry
According to industry reports, the U.S. has approximately 35,000 laundromats generating over $5 billion in annual revenue. With the rise of cashless transactions and digital business management solutions, the industry is ripe for disruption. The PayRange-Turns partnership is expected to lead this transformation.
4. Expert Insights on the Deal
4.1 Founders’ Perspectives
Sukanth Srivastav, Founder of Turns, stated:
“Our platform was built to redefine laundromat management. With PayRange, we can now scale our vision and transform the industry.”
Paresh Patel, Founder and CEO of PayRange, remarked:
“With Turns, we’re not just expanding our capabilities—we’re creating the definitive laundromat platform for the U.S. market.”
4.2 Industry Analysts’ Take
Experts believe that this acquisition will:
- Enable greater automation in laundromat operations.
- Reduce dependency on outdated coin-based systems.
- Provide data-driven insights to enhance profitability.
5. Learning for Startups and Entrepreneurs
5.1 The Importance of Market Fit
Turns identified a major pain point in laundromat management and created a solution tailored to real business needs. Entrepreneurs should focus on solving critical inefficiencies in their target industries.
5.2 Strategic Acquisitions Can Drive Growth
PayRange’s acquisition of Turns demonstrates how larger companies can scale quickly by acquiring innovative startups. Founders should consider acquisition opportunities as a growth strategy.
5.3 Leveraging Technology for Business Success
By integrating AI and IoT-driven solutions, Turns created a competitive advantage. Startups should embrace emerging technologies to differentiate themselves.
About The Startups News
When it comes to covering the latest startup acquisitions, funding rounds, and industry trends, The Startups News is the go-to source for entrepreneurs and investors. Whether you’re looking for expert insights on venture capital trends or actionable tips for scaling your startup, we bring you the latest startup updates with in-depth analysis. Stay ahead of the curve with breaking tech stories, business funding news, and the best startup ideas from across the globe. Visit The Startups News for more insights.
