Dropless’ current main service uses electric mopeds and bicycles to reach its clients to provide a water-free vehicle cleaning service, saving up to 300 litres of water for every vehicle washed. Its innovative approach also means there is no run-off wastewater or toxic chemicals, helping to preserve the local environment and allowing vehicles to be washed without the need for foul drainage.
Launched initially in Southwest London, Dropless’ tech-enabled service now caters to both consumers and business fleets, including the likes of Amazon, Royal Mail and DPD. The company has subsequently expanded its reach to cover all of London, Surrey, Bath, Bristol and Manchester with plans for further growth in 2021. Dropless has also extended its service to include scratch and dent repairs and vehicle servicing.
|Date of investment||March 2021|
|Cost of investment||£3,750,000|
|% of ownership||16%|
|Latest valuation of Pembroke investment||£3,474,000|