- UAE-based VC MEVP has made a partial exit from its investment in the UK-headquartered beauty app Fresha, with a secondary sale in the company’s $52 million Series C extension round.
- MEVP’s new partial exit generated a 52x cash-on-cash multiple and an IRR of over 90 per cent.
- Founded in 2015 by William Zeqiri, Fresha allows consumers to discover, book and pay for beauty and wellness appointments with local businesses via its marketplace and has a presence in the US, Canada, Australia, Netherlands, Poland, Russia and Singapore.
Middle East Venture Partners (MEVP) on Tuesday announced that it has made a new partial exit from its investment in Fresha, a 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 $152 million 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 per cent. Earlier this year MEVP announced that 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.