Fresha Acquires $31 Million in Financing

Fresha, the world’s leading beauty and wellness marketplace, has secured a $31 million venture debt facility from J.P. Morgan. This funding is set to accelerate Fresha’s expansion into new markets and enhance its machine learning capabilities and AI-powered robotics.

Since its launch in 2015, Fresha has empowered a wide range of beauty businesses—including salons, barbershops, spas, and aesthetics clinics—to operate independently and efficiently. The company offers a subscription-free software platform that streamlines operations, connects businesses with a broader customer base, and allows consumers to discover, book, and pay for appointments with local beauty and wellness providers. This all-in-one platform encompasses everything from appointment bookings and point-of-sale systems to customer records management, marketing automation, loyalty programs, inventory management, and team coordination. By providing merchants with the tools they need to run their businesses effectively, the Fresha ecosystem enables even the smallest businesses to thrive in a competitive landscape.

“We’re delighted to support Fresha on their continued growth journey,” said 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.”

To date, Fresha has attracted over $185 million in venture capital, including a notable $150 million Series C round in 2021, led by General Atlantic. With profitability within reach, this new partnership with J.P. Morgan is expected to accelerate Fresha’s efforts to transform the beauty and wellness industry on a global scale.

Fresha’s platform now supports over 110,000 merchants across 120 countries, including the United States, United Kingdom, Canada, Australia, New Zealand, and Europe. With over $35 billion in gross merchandise volume processed to date, Fresha’s impact on the global beauty and wellness sector is undeniable. In 2023, the company reported a 67% year-over-year revenue growth, with similar performance anticipated in 2024.

“We are thrilled to be working with J.P. Morgan,” said William Zeqiri, Founder and CEO of Fresha. “The next exciting frontier for Fresha is expanding our research and development in machine learning and integrating AI into daily business operations. By embracing cutting-edge technology, we are not just enhancing our services; we are creating opportunities and redefining what’s possible. Our vision is a world where innovation and creativity flourish together, driving progress and enabling everyone to reach their full potential.”