“Uber for beauty” company blow LTD is returning to Seedrs to raise more capital.
According to a release, blow is launching a £1.5 million funding round on Seedrs. The round is being led by blow LTDs existing investor, Unilever Ventures, which has invested £800,000. The company also states that the round is in advance of a larger institutional round. Investors in the Seedrs round will receive a convertible with a 22.5% discount on a future round.
blow LTD’s CEO Jo Thompson, says that in recent years they have seen a dramatic rise in the expectations of consumers as they have grown accustomed to a better kind of user experience due to consumer-focused apps like Uber and Deliveroo. blow LTD seeks to disrupt the beauty services market. To date, the company reports having delivered 360,000 expert beauty services.
“The beauty industry has lagged behind others in catching up with this trend, but we are confident that our quality convenience offer positions us to be the go-to destination for all beauty needs that can fit into a consumer’s lifestyle, not around it,” explains Thompson.
Back in 2016, blow raised £1.35 million at a pre-money valuation of £6 million.
In the UK, it has become standard practice for early-stage firms to pursue multiple funding rounds on crowdfunding platforms as the firm matures.
Currently averaging 15,000 treatments per month, there are 1.7 blow LTD services delivered every minute. blow has expanded its service offer to 50 different treatments, including blow dries, makeup, nails, massages, lashes, waxing, facials and spray tans and is now available in Greater London, Manchester and Birmingham. Offering beauty services from 7am to 10pm, seven days a week and at two hours’ notice, the company is delivering a level of convenience far beyond traditional salons.
Launched by co-founders Dharmash Mistry and Fiona McIntosh in November 2013, blow LTD is described as a “unique multi-channel model (including physical store “hubs” and on-demand services across London), customers can book and rate professionals via mobile apps or online around the clock.”
Stephen Willson, Investment Director at Unilever Ventures, says that blow Ltd is re-inventing the way consumers and beauty professionals connect with one another.
“…we believe blow Ltd is ideally positioned to continue leading the exciting shake-up of the multi-billion-pound beauty services industry into the digital age.”
Have a crowdfunding offering you'd like to share? Submit an offering for consideration using our Submit a Tip form and we may share it on our site!