London-based Fresha, a marketplace for beauty, wellness, and self-care services, has made a strategic investment in Yuv, a London-based company specialising in AI-powered hair colour technology.
This development follows Fresha’s recently raised $31M (€27.8M) venture debt facility from JP Morgan to expand into new markets and drive growth.
To date, Fresha has raised over $185M in funding, including a $150M Series C round in 2021 led by General Atlantic.
The latest collaboration with Yuv aims to enhance Fresha’s platform offerings for salons and beauty professionals, integrating advanced technology to drive innovation and efficiency.
Yuv, also based in London, is a beauty tech company focused on improving the hair industry through innovation and sustainability. Its main product, the yuv Lab, is a smart device for freelancers and salons that creates custom hair colour at the push of a button.
The device is compact, and affordable, and helps make hair colour services more precise. Yuv has developed refillable hair colour cartridges, which reduce waste and promote sustainability. With two patents for its technology, Yuv aims to create a more eco-friendly future for beauty professionals.
Aim of the partnership
Fresha, which connects over 120,000 beauty businesses worldwide, is enhancing its platform by partnering with Yuv, a hair colouring company.
Hair colouring is a key service for many salons but can be challenging to manage. With Yuv’s technology, Fresha aims to make hair colouring easier by improving precision, inventory management, and providing personalised services for clients.
Yuv’s technology allows salons to save custom hair colour formulas for each customer, ensuring consistent results and a tailored experience, which helps build client loyalty and encourage repeat visits.
Additionally, the integration will improve inventory management by offering real-time insights into product usage and automating restocking, reducing waste and costs for salons.
This partnership is expected to strengthen Fresha’s position as a leader in the beauty industry by enhancing service quality and operational efficiency for salons, ultimately benefiting both clients and salon owners.
William Zeqiri, founder and CEO of Fresha, says, “Investing in Yuv aligns with our mission to provide the most advanced tools to beauty professionals. Hair colouring is a cornerstone of the salon business, and by addressing the complexities of this service, we’re adding significant value to our platform.”
“This partnership will transform how salons operate and positions Fresha as the most trusted and indispensable platform for beauty and wellness businesses worldwide, reinforcing our role as the industry leader.”
“We’re thrilled to join forces with Fresha,” adds Francisco Gimenez, founder and CEO of Yuv. “Partnering with Fresha provides us with the platform and reach we need to revolutionise the salon experience on a global scale.”
“Together, we’re set to transform how professionals and clients approach hair colouring, creating a more efficient and personalized process that benefits everyone involved.”
Connecting the world to beauty and wellness
Founded in 2015 by William Zeqiri, Fresha is a marketplace platform for beauty and wellness. It helps users find, book, and pay for appointments with local services. Businesses benefit from an all-in-one platform that allows them to manage their operations without subscription fees.
With a network of over 120,000 merchants, Fresha is active in the US, UK, Canada, Australia, New Zealand, and Europe, reaching customers in 120 countries. The platform handles tens of millions of appointments each month and has facilitated over $35B in transactions.
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