Piper Alderman advises Tangerpay on merger with CleanCloud at $70 million valuation

Piper Alderman is pleased to have advised Tangerpay on its merger with UK-based laundromat management software company CleanCloud, a transaction that values the combined business at more than AU$70 million and positions it as a global leader in laundry technology and payment solutions.

Founded in 2020, Tangerpay is Australia’s leading payments provider for the self-service laundromat sector, enabling operators to transition from traditional coin-operated systems to modern cashless payment technology. The company services thousands of machines across laundromats, backpacker accommodation, motels, student housing and mining camps, with customers spanning Australia, the United Kingdom, the United States, South Africa and Iceland.

Built as a cloud-first and multi-currency platform, Tangerpay has achieved rapid growth, reporting annual revenue growth of approximately 40 per cent and establishing itself as a leading fintech solution within a traditionally underserved industry.

The merger with CleanCloud brings together two complementary technology platforms serving the global laundry sector. CleanCloud is a leading point-of-sale and operations platform for pick-up and delivery laundromats and dry-cleaning businesses and is partly owned by Xplor Technologies, a global software and payments provider backed by Advent International.

This transaction represents a significant milestone in the evolution of the laundry services industry, combining payments technology and operational software to create an integrated platform with global scale. The merger positions the combined group to capitalise on growing demand for self-service laundry solutions and continued digital transformation across the sector.

Piper Alderman’s role included advising Tangerpay on all legal aspects of the transaction, including merger structuring, transaction documentation, due diligence and negotiation of the key commercial terms.

Partner Andrew Rankin led the engagement, bringing extensive expertise in mergers and acquisitions and growth-stage technology transactions. Andrew was supported by Allyson Yule, Senior Associate.

Importantly, this work demonstrates Piper Alderman’s continued strength in advising founder-led businesses, technology companies and emerging market leaders on transformative growth transactions.

Andrew Rankin commented:

“Tangerpay’s growth story is a testament to the strength of innovative Australian technology businesses identifying and solving industry-specific challenges at scale. We are delighted to have supported the founders on this strategic merger, which creates a platform uniquely positioned to lead the global laundry technology sector.”

Following completion of the transaction, Tangerpay had the following to say about working with Piper Alderman:

“The Piper Alderman team provided practical and commercial advice throughout every stage of the transaction. Their responsiveness, technical expertise and understanding of our business objectives were instrumental in achieving a successful outcome, and we greatly valued their support during this important milestone for Tangerpay.”

This matter further demonstrates Piper Alderman’s leading capability in acting on complex mergers and acquisitions and technology transactions, particularly those supporting high-growth Australian businesses pursuing international expansion and strategic growth opportunities.

Related media:

• Self-service laundry boom powers fintech Tangerpay to $70m valuation – Australian Financial Review, 20 September 2026