Fresha, a leading marketplace for beauty and wellness businesses, has secured $31 million in financing from J.P. Morgan. The funding is set to accelerate the company’s expansion into new markets and advance its development of AI-powered robotics and machine learning capabilities.
Fresha offers subscription-free business software, integrated payment processing, and consumer marketplace, with an all-in-one platform for beauty and wellness businesses of all sizes. The platform’s comprehensive functionality includes appointment bookings, point-of-sale systems, marketing automation, and team management tools. Seamless integrations with platforms like Instagram and Google further unlock revenue potential for its partners.
The platform has experienced 70 per cent year-on-year growth in Australia, with five million unique sessions across web and app platforms, and currently partners with over 16,000 businesses across the Asia-Pacific region, including notable brands like Willomina, Edwards & Co, and Browco Brow & Lash Bar.
This investment will see Fresha’s Australian team grow by 33 per cent by the end of the year to support the 40,000 professionals using the platform to optimise their operations and drive growth. Expansion into wellness, class-based businesses, and medical practices are also on the horizon, broadening Fresha’s impact across the beauty and wellness industry.
Globally, Fresha operates in 120 countries, with over 110,000 businesses on board, processing more than $35 billion in transactions to date. In 2023, it grew its revenues by 67 per cent, with similar growth expected this year as the company nears profitability.
“We’re delighted to support Fresha on their continued growth journey,” said Alexandra Wyatt, U.K. Innovation Economy banking at J.P. Morgan. “Their unique business model is transforming the industry landscape, and it’s precisely the type of innovation we want to help drive globally.”
William Zeqiri, Founder and CEO of Fresha, highlighted the company’s vision: “The beauty and wellness industry is a dynamic world, buzzing with creativity, innovation, and an endless quest for service enhancement. 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.”
Zeqiri added, “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 personalising their services and honing their craft.”
As conversations in the industry increasingly focus on the impact of AI, Fresha’s approach offers a refreshing perspective – one where AI and robotics enhance, rather than replace, the human touch. By automating routine tasks, technology can empower professionals to elevate their creativity, strengthen client relationships, and, ultimately, drive business growth.
Fresha’s expansion is not just about scaling; it’s about shaping a future where innovation and artistry coexist, creating new possibilities for the beauty and wellness industry.
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