City Coin Group expands with Tranche 2 investment

City Coin Group, Malaysia’s leading self-service laundry operator, is poised for rapid expansion following the success of its Project Coin Tranche 1.

Having raised RM5 million in July 2024 for technology upgrades and franchise improvements, the company now offers further investment opportunities with Tranche 2, aiming to boost its market presence worldwide.

With over 750 outlets in countries like Malaysia, Thailand, Brunei, and Turkey, City Coin Group is eyeing additional growth in high-demand markets, including Vietnam, Indonesia, the Philippines, and the Maldives.

Expanding franchise and technology

Funds from Tranche 2 will be allocated to further improve City Coin Group’s franchise model, upgrade technology, and hire more staff for expanded operations.

These enhancements will include the latest Tosei 3-in-1 washer-dryer systems across new locations and additional services, such as an app for easy customer access and a pick-up and delivery option.

This expansion is designed to cater to the rising demand for convenient, cashless, and sustainable self-service laundry solutions in Southeast Asia and beyond.

“Our Project Coin initiative has been a tremendous success,” said Paul Ang, Founder and CEO of City Coin Group.

“The completion of Tranche 1 not only underscored our strong business model but validated our vision for growth with the backing of our investors.

With Tranche 2, we offer a solid investment backed by favourable RAM ratings, which assures investors of our stability and financial strength.”

Paul Ang highlighted the market potential for self-service laundry, noting, “The demand for these solutions continues to grow across Asia, and our expansion into new regions is in response to the strong demand.

Project Coin Tranche 2 will support our efforts to bring efficient and environmentally friendly laundry services to these communities.”

Solid returns and strong investor confidence

Project Coin Tranche 2 offers competitive returns for investors, with a two-year Islamic Investment Note providing an annual profit rate of 7.65%.

City Coin Group’s growth strategy aligns with its recognition in the Malaysia Book of Records for the most self-service laundromats and as the Best Franchisor in Asia Pacific.

This strong market position, coupled with the recent R4 rating from RAM Rating Services, underscores the financial stability and reliability of the company as it continues expanding.

City Coin Group’s reputation for excellence was further cemented when it achieved a favourable RAM rating, reflecting adequate security and attractive returns for investors.

“The RAM rating and success of Tranche 1 give us confidence that Tranche 2 will perform well.

With more people looking for cashless, efficient laundry solutions, our model is meeting the needs of modern consumers,” Ang noted.

Project Coin will continue beyond Tranche 2, with future phases planned to attract a total of RM20 million.

The raised funds will allow City Coin Group to bring its innovative laundry services to new markets while continuing to improve its franchise infrastructure and expand technology options for users.

By focusing on sustainable, cashless, and user-friendly solutions, City Coin Group is set to shape the future of self-service laundry in Asia and beyond.