Fast-growing Philadelphia car wash membership startup snags $5M investment to fuel expansion

September 27, 2021

Philadelphia-based car wash membership startup EverWash raised $5 million to continue its explosive growth and hire more staffers.

The debt deal is with Flow Capital, a Toronto investor that specializes in “emerging growth” companies. EverWash can take an additional $2 million over the next two years.

The funding will be used to hire new employees and bring on new car washes, EverWash President Scott Caplan said. EverWash has about 40 employees, mostly located in its Philadelphia headquarters, but also spread throughout California, Arizona, Florida, Utah and Illinois. Caplan anticipates hiring 20 additional workers. The funds will also cover marketing and corporate expenses, as well as some potential future acquisitions, he said.

EverWash offers flat-rate monthly memberships for car washes at participating locations within its system. The startup sets up a membership platform for free at each participating car wash, training staff, building a membership website and handling customer service calls. EverWash then takes a percentage of every membership sold. Caplan described the platform as “gold” for small car wash owners, who may struggle to get recurring revenue with a business that is often dependent on weather conditions.

“We only win at the company if the car wash owner and the car wash wins,” Caplan said. 

*Article courtesy of Philadephia Business Journal

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