Fresha secures €27.8M financing to focus on ML and AI-powered robotics 

London-based Fresha, a marketplace platform for beauty and wellness, announced on Wednesday that it has secured a $31M (approximately €27.8M) venture debt facility from J.P. Morgan.

This funding will accelerate the company’s expansion into new markets and drive the growth of its machine-learning capabilities and AI-powered robotics.

To date, the UK company has raised over $185M (approximately €166M) in venture capital funding, including a $150M (approximately €135M) Series C round in 2021 led by General Atlantic.

“We are thrilled to be working with J.P. Morgan,” says William Zeqiri, Founder and CEO of Fresha. “Today, there is so much potential to be unlocked. Beauty service providers need a 360-degree view of each client, including booking behaviour, preferences, payment methods, and lifetime value. Extracting insights from every transaction has become a key competitive advantage, allowing our users to offer highly tailored and personalised services.”

Fresha: Marketplace platform for beauty & wellness

Founded by William Zeqiri, Fresha‘s platform empowers beauty businesses, such as salons, barbershops, spas, and aesthetics clinics, to operate efficiently and independently.

By offering subscription-free business software with embedded payment processing and a consumer marketplace, the London-based company helps businesses streamline their entire operations and connect with more customers.

The platform allows consumers to discover, book, and pay for beauty and wellness appointments with local businesses.

The Fresha ecosystem offers merchants everything they need to run their businesses effectively, including appointment bookings, point-of-sale, customer records management, marketing automation, loyalty programs, beauty product inventory, and team management.

At present, the company boasts a network of over 110,000 merchants, with a strong presence in the United States, United Kingdom, Canada, Australia, New Zealand, and Europe.

To date, Fresha has facilitated transactions worth over $35B (approximately €31.4M) in gross merchandise volume, showcasing its significant impact on the global beauty and wellness industry.

In 2023, the company grew revenues by 67 per cent year-over-year, with a similar level of performance expected in 2024.

Zeqiri continues, “The next exciting frontier for Fresha is expanding our research and development in machine learning and integrating AI into daily business operations. Our vision is a world where innovation and creativity flourish together, driving progress and enabling everyone to reach their full potential. In the not-so-distant future, we envision AI-powered robots working alongside humans in the beauty and wellness space. Robots can handle repetitive tasks, such as managing bookings, mixing colours, welcoming customers, or managing inventory, freeing up valuable time for stylists to focus on personalizing their services and honing their craft.”

The investor

J.P. Morgan serves venture-backed and high-growth companies, founders, and venture capital firms across the globe in industries like technology, fintech, disruptive commerce and internet, life sciences, climate tech, and healthtech.

The firm provides deep industry expertise, local support, global products and services, and a robust network of investors and partners to meet clients’ commercial, investment, and private banking needs.

“We’re delighted to support Fresha on their continued growth journey,” says, Alexandra Wyatt, U.K. Innovation Economy banking at J.P. Morgan.

“Fresha is steering the rapidly expanding beauty and wellness space with its innovative technology and strong unit economics. Their unique business model is transforming the industry landscape, and it’s precisely the type of innovation we want to help drive globally,” adds Wyatt