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DUBA:I: Middle East Venture Partners (MEVP) announced today it has made a new partial exit from its investment in Fresha, a top beauty and wellness software platform, with a secondary sale in the company’s $52 million Series C Extension round.
This extension brings Fresha’s total Series C raise to $152M and values the MEVP backed company at over $640 million.
MEVP’s new partial exit generated a 52x cash-on-cash multiple and an IRR of over 90%.
Earlier this year MEVP announced it had made a partial exit from the company, generating a 39x cash-on-cash multiple.
Following both exits, the Dubai-based venture capital firm continues to own a sizable stake in Fresha.
For more information on the round, please click here.
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About MEVP
MEVP is a Middle East-focused venture capital firm that invests in the early and growth stages of innovative technology companies run by talented entrepreneurs in the Middle East region with a focus on the GCC and Levant countries. With a team of 20 VC professionals across offices in Dubai, Beirut, Cairo, Bahrain, Riyadh and Abu Dhabi, MEVP manages 4 regional funds and is the most established VC firm in the region, with a clear cross border investment appetite. Visit www.mevp.com for more information.
About Fresha
Fresha is a leading global beauty and wellness platform. Each month, tens of millions of appointments are discovered, booked and paid with partner salons, spas and barbershops on Fresha. 50,000 partner venues in over 120 countries use the platform to manage their operations with Fresha’s intuitive, full-spectrum, subscription-free business software. Fresha transforms beauty and wellness business operations by enabling the acceptance of online appointment bookings, processing of card payments and managing customer records, along with automations for marketing, staffing, product inventory, and accounting, all in one place. Launched in 2015 originally under the name Shedul, the company rebranded to Fresha in 2020. For more information, visit www.fresha.com , download Fresha on the App Store and Google Play or follow Fresha on Facebook and Instagram.
Media Contacts
MEVP
Riyad Abou Jaoudeh
riyad.aboujaoudeh@mevp.com
Fresha
Victoria Garcia Barker
media@fresha.com
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