Fresha Scores $100M Collection C For B2B Market

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Beauty and wellness software platform Fresha has closed a $ 100 million Series C funding round that will be used to boost its services, including a B2B marketplace, according to a press release.

Salons, spas and barbershops can manage their B2B operations with the subscription-free business software from Fresha, according to the press release. The software enables them to book appointments, process payments, and manage customer records, which can reduce some of the most common problems these companies face.

Automation for marketing, human resources, inventory, and accounting will also be offered, according to the publication.

Fresha also offers Fresha Plus, which is equipped with other functions. And instead of using a regular subscription model, the company is instead charging fees for using card payment processing features and online bookings, the press release said.

“The COVID-19 pandemic has accelerated the global transition to online bookings and integrated card payments, which are now considered essential to running a modern salon or spa,” Fresha Founder and CEO William Zeqiri said in the press release. “In the May 2021, Fresha was able to increase the volume of card payments processed on the platform by 30 times compared to the previous year. “

Series C round backers included leading General Atlantic, a global growth public company, along with the stake of Huda Kattan of HB Investments and the founder of Huda Beauty as well Michael Zeisser, Managing Partner FMZ Ventures and former Chairman of Investments of the Alibaba Group, and Jonathan Green the capital of Lugard Road.

Partech, Target Global and FJ Labs, who are existing investors, also attended.

Software-as-a-Service (SaaS) companies have seen more investment amid the pandemic as more companies enable remote and digital work, requiring new services to be implemented, PYMNTS reported.

However, the growth has brought challenges as it has been more difficult for companies to keep services running smoothly while demand increases.

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