General Atlantic has led a $100 million Series C spherical for salon and spa software program Fresha. Huda Kattan, founding father of Huda Beauty and HB Ventures, additionally participated within the spherical.
Fresha, based in 2015, gives subscription-free software program to the salon trade that permits for on-line appointment reserving, cost processing and report administration. Instead of subscriptions, the corporate collects charges on utilization options, like card cost processing.
Kattan mentioned in a press release that she’s “witnessed first-hand the positive impact Fresha has for beauty entrepreneurs” and that the corporate is “a force for good in the growing community of beauty professionals around the world, who are increasingly adopting a self-employed approach.”
Michael Zeisser of FMZ Ventures, the previous chairman of investments at Alibaba, and Jonathan Green of Lugard Road Capital additionally invested within the spherical, as did current buyers Partech Target Global and FJ Labs. In complete, Fresha has raised $132 million.
Fresha plans to make use of the most recent spherical of capital to construct out its salon neighborhood, scale product growth, deepen bookings and pursue M&A, the corporate mentioned in a press release. Right now, the corporate has about 50,000 companions utilizing the software program within the U.S., U.Ok., Canada, Australia, New Zealand and Europe. To date, Fresha has processed about $12 billion in salon and spa appointments funds, and that it’s rapidly including new salons to its community.
“The rapid growth we’re seeing comes down to having happy customers that love using Fresha,” mentioned Fresha founder and chief govt officer William Zeqiri. “The COVID-19 pandemic has accelerated the transition across the globe to online bookings and integrated card payments, now seen as essential to run any modern salon or spa.”
Zegiri mentioned that in May, Fresha noticed a 30-fold improve within the quantity of card funds processed on the platform, in comparison with the 12 months prior.
“Legacy software offerings for beauty and wellness businesses are often expensive to purchase and difficult to use. Salons face obstacles with inefficient scheduling, resulting in low occupancy and lost sales,’ said Nick Miller, Fresha’s co-founder and chief of product. “More than ever, beauty and wellness businesses are opting to grow sales by leveraging tools to facilitate online payments, self-service booking and automated marketing initiatives. Fresha’s technology optimizes appointment bookings with real-time online availability and boosts local discovery, helping partner salons grow sales.”
General Atlantic’s Aaron Goldman, international co-head of economic providers and managing director, mentioned Fresha has “significant opportunity to further scale.” Partech’s Philippe Collombel, common associate, mentioned Fresha “outpaces the competition.”
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