Newfund in €1.5m round for FlexyBeauty

This is the first round of funding completed by the startup. The company will use the fresh funds to recruit an extra 15 staff and to add new features to its software.

Founded in 2007 by Francois Véron and Patrick Malka, Newfund closed its maiden vehicle Newfund 1 on €72m in 2009, slightly short of its €80m target. The vehicle typically invests between €500,000-6m (up to €10m in case of co-investment) of growth capital in French SMEs, usually taking minority stakes.

The fund aims to complete around 20 investments. Earlier this month, the GP also invested in Blue Industry & Service and Eqinov. Other portfolio companies backed with Newfund 1 include Allgoob, Brazeco, Bureau 14, Campin-Car Park, Izeos, MobPartner, Sykio, CRM Mobile Corp, and XOR Motors, according to unquote" data.

Company
Co-founded in 2014 by CTO Sébastien Beaujard and CEO Ilan Koskas, FlexyBeauty offers an integrated software-as-a-service product dedicated to hairdressing and beauty salons and spas. The service includes a cash register software, an appointments manager and a timetable and website/mobile app builder.

Based in Paris, the group currently counts around 1,200 France-based users and employs 15 people. Its revenues reportedly amount to around €700,000 at present.

People
Newfund – François Véron (founder).

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• Newfund Management