KKR Invests $80M in Fresha at $1B Valuation

KKR Backs Beauty Platform Fresha at $1 Billion Valuation

Fresha, a London-based marketplace for beauty and wellness bookings, announced on May 22 that KKR invested US$80 million, valuing the company at more than US$1 billion. KKR made the investment through its growth equity arm, which focuses on companies with established business models. The funding will support Fresha's expansion into more countries and development of new AI features. Founded in 2015, Fresha has now raised US$285 million in total funding. The platform serves more than 140,000 businesses and handles over 35 million appointments a month—figures that have grown significantly since its 2021 funding round.

Business Model and Revenue Growth

Fresha generates revenue through built-in services, including payment processing fees and a 20% cut from the first appointment booked by new marketplace clients. This model produced US$43.4 million in annual recurring revenue in 2024, nearly double the prior year's figure. The company is expanding its product beyond booking software into broader business management tools. Its "Team Connect" feature handles internal communication for larger salon and wellness groups with multiple locations.

AI-Driven Expansion Strategy

Fresha is integrating artificial intelligence across multiple functions. In the Asia-Pacific region, large language models including Google Gemini drive 25% of online booking referrals on the platform. The company has launched an AI Concierge feature that functions as a digital front desk, handling calls, messages, payments, and appointment rescheduling. Fresha is also positioning AI discovery as a mechanism to generate new customer demand for its business clients on the platform.