Fresha secures $31m in venture debt from J.P. Morgan to expand AI capabilities
The London-based marketplace platform has raised $31m in venture debt from J.P. Morgan to fund artificial intelligence development and international expansion.
≈ £23.7M at $1 = £0.7638 on 21 Aug 2024
Fresha operates a marketplace platform for the beauty and wellness sector, providing management software and payment solutions to salons and spas worldwide.
London-based Fresha has secured a $31m venture debt facility from J.P. Morgan to accelerate its international expansion and develop machine learning and artificial intelligence capabilities.
The financing follows previous fundraising efforts by the platform, which has accumulated over $185m in funding to date, including a Series C round in 2021.
The capital will be deployed to support the company as it introduces automated tools and artificial intelligence functions designed to assist merchants with daily operations and administrative tasks.
From the founder
"We are thrilled to be working with J.P. Morgan"
William Zeqiri
Founder and CEO at Fresha
Investor perspective
"We’re delighted to support Fresha on their continued growth journey"
Alexandra Wyatt
U.K. Innovation Economy banking, JP Morgan
Use of funds
- 01Expand into international markets
- 02Fund research and development
- 03Continue product development
