Blow Ltd plans 2020 European launch as it raises new funding
Blow Ltd, the entrepreneurial beauty bar business, has completed a new funding round and has raised £1.9 million from hundreds of investors on leading European investment platform Seedrs.
Importantly, Unilever Ventures (which is already a Blow investor) took part in this round as well. This is an affirmation of the appeal of the business and the ongoing strength of the beauty bar model, in addition to underlining Unilever's continuing commitment to backing or acquiring nimble, innovative new businesses. Unilever pumped in £800,000 this time.
Blow has used Seedrs to raise money in the past, but the latest £1.9 million easily beats the £1.5 million achieved previously.
So what will the proceeds be used for? The company plans to use the money from its third investment round (which comes ahead of a large institutional investment round next year) in order to adds to its presence in the UK market and to help prepare for a European launch in 2020.
The company has been a major beauty services disruptor and currently averages 15,000 treatments per month. It has gradually expanded its offer and now has up to 50 different treatments available, from the original blow-dries to make-up, nails, massages, facials, waxing and spray tans.
CEO Jo Thompson, said: “This has been a key growth round for us in preparation of larger Series B in 2020, so we are delighted to have returned to Seedrs, welcome back our existing supporters, and pick up some new ones along the way. This is an extremely exciting time for the business as we continue to solidify our place as the go-to destination for all beauty needs that can fit into a consumer’s lifestyle, not around it.”
The business was founded in 2013 by venture capitalist and entrepreneur Dharmash Mistry and former Grazia and Elle editor Fiona McIntosh. It offers on demand services at home by professional beauty therapists via its app, and also has Blow bars in Central London and in the beauty hall at Debenhams in Oxford Street, Market Street Manchester and The Bullring Birmingham.
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