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FlexyBeauty Raises 1.5 Million Euros

The French software company servicing hair salons, beauty institutes and spas, has received an injection from Newfund.

PARIS — FlexyBeauty, a French digital software solutions company servicing hair salons, beauty institutes and spas, has raised 1.5 million euros, or $1.6 million at current exchange, from Newfund, it said on Wednesday.

FlexyBeauty was created in 2014 by Ilan Koskas and Sébastien Beaujard, and operational starting in 2015. Since then, the company has digitized operations of more than 1,200 hair and beauty salons across France.

FlexyBeauty bills its offer to be an all-in-one, simple digital solution, which unites connected cash register software, a web site and a mobile application, including a boutique, plus online reservation and payment capabilities. Complimentary services include geolocalized promotions and optimization of peak work periods.

FlexyBeauty’s offer is by subscription, which costs starting at 29 euros, or $31.35, per month. Salons do not need any particular computer system to use it.

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“With this first round of funding, FlexyBeauty now wants to become France’s leader in software-as-a-service destined for hair and beauty professionals, with 10,000 salons in 2019,” the company said in a statement.

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Along with salons of all sizes, the service is employed by hairstylists and aestheticians working in people’s homes.

FlexyBeauty has secured certification for cash registers in 2018. That’s in line with a French law mandating the implementation of certified cash registers starting Jan. 1, 2018, for a number of retail businesses, including hair and beauty salons. The requirements — for existing or new registers — will include security, storage and archiving data abilities.

“Despite a clientele that’s increasingly digitized and demanding an accessible online offer, the 100,000 salon and beauty professionals [in France] are still largely under-equipped. FlexyBeauty wants to pursue and accelerate its growth with this target,” the company stated.

Further, FlexyBeauty’s staff, based in Paris, is expected do double in size by the end of this year from its current count of 15 people. New employees will fill marketing, sales and IT development roles.

Newfund, with an endowment of 200 million euros, or $216.2 million, has more than 50 activities in its portfolio.