PayRange’s Strategic Acquisition of Turns in the Fintech Sector

In a significant move within the fintech industry, PayRange has successfully acquired Turns, a vertical SaaS company specialising in laundry solutions, for an undisclosed sum. This strategic acquisition aims to integrate PayRange’s advanced machine payment framework with Turns’ innovative laundry management software, thereby broadening the services available within the U.S. laundromat sector.

Enhancing Laundromat Services

The newly combined platform is set to deliver comprehensive tools encompassing various aspects of business management, including pickup and delivery services, point-of-sale systems, and efficient payment processing options.

PayRange’s Comprehensive Payment Solutions

PayRange is known for offering a cohesive system that supports payment processing, identity verification, and overall commerce operations. This systems approach aids operators in maximising revenue, minimising costs, and streamlining their operational processes.

About Turns and its Innovative Offerings

Turns, co-founded by Sukanth Srivastav and Vishal Gupta, is focused on providing laundromats with an integrated platform that merges software and hardware. This platform includes critical features such as point-of-sale systems, customer management, payment processing, accounting, employee management, logistics, and compliance functionalities.

Srivastav remarked that their platform was designed to revolutionise laundromat management. With PayRange’s support, they anticipate achieving this goal on a much broader scale while realising their vision for the future of the laundromat industry.

Previous Funding and Growth

Earlier in January 2023, Turns secured $500K in a pre-seed funding round led by Better Capital, with additional contributions from PointOne Capital and several angel investors.