Wahanda, Europe’s largest hair and beauty marketplace, is continuing to deliver on its ambitious growth plans with the €34 million (£24m) acquisition of its Dutch equivalent Treatwell.
The deal is the fourth European acquisition by Wahanda in the last six months and reaffirms the company’s strategic position as the leading online hair and beauty booking platform in Europe.
“We are delighted to be joining forces with Treatwell,” said Lopo Champalimaud, Wahanda’s CEO and founder. “The team comes with a wealth of talent, some of whom we have been fortunate enough to have worked with in the past. Treatwell’s team includes a co-founder of Just-Eat Benelux, an ex-CFO of Book- ing.com and a former senior executive at Procter & Gamble, who between them have helped build Treatwell into one of the fastest growing online marketplaces of its kind in Continental Europe.”
Treatwell has seen year-on-year growth of over 425% since its launch in 2013 and has over 2,500 spas and salons across The Netherlands, Belgium and Germany. The combined company now has over 15,000 venues across Europe, and over 20 million people using its automated booking service.
“By bringing Wahanda and Treatwell together, we have formed the undisputed leader in the European market.” said Laurens Groenendijk, co-founder and CEO of Treatwell. “Our geographical coverage and our cutting-edge technology complement each other perfectly, as do our cultures and ambitions. We are thrilled to be part of this exciting venture.”
The deal follows the €42 million investment in Wahanda by Recruit Holdings last month, which will be used to support accelerated growth in the combined company.
Wahanda acquired Germany’s Salonmeister in October 2014; it completed the acqui-hire of the Lemon Labs team, the leading Lithuanian mobile app development agency, in January this year; and in April acquired the team and assets of Austria’s Beautycheck. The company now has a product offering in ten countries, with further plans for European expansion in the months ahead.
Treatwell is backed by two investors, Project A Ventures and Piton Capital. Commenting on the deal, Uwe Horstmann from Project A Ventures said: “It has been an absolutely fantastic experience to work with the Treatwell team, not only as an investor, but also collaborating with them intensively on operational matters.” “In a very competitive space, Treatwell has built up a great business in a very short time and it has been an absolute pleasure to be part of that journey.” added Andrin Bachmann from Piton Capital. “We are convinced that they will now successfully continue their journey as part of Wahanda and the Recruit Group.”
Wahanda is Europe’s largest hair and beauty marketplace, headquartered in London and employing 210 people across Europe. Its online platform allows customers to browse and instantly book appointments at over 15,000 salons and spas throughout Europe. Wahanda is currently growing at over 300% year on year. The company was founded in 2008 by Lopo Champalimaud.
With over 2,500 connected spas and salons in more than 50 cities in The Netherlands, Belgium and Germa- ny, Treatwell is the biggest and fastest growing online marketplace for hair and beauty services in Continental Europe. The company was established by five co-founders: Laurens Groenendijk, a co-founder of Just-Eat Benelux, Erik Wienk, the former CFO of Booking.com, Jan-Willem van Boeckel, a former senior executive at Procter & Gamble, Martijn Rozendaal, also a co-founder of Just Eat Benelux and Maarten Engelen, a tech entrepreneur. It went live in October 2013, and has seen month-on-month growth of 20%. Treatwell allows consumers to search, compare and book treatments via its website or app, and offers spas and salons a free lightweight SaaS solution to help support new and loyal customers in their user experience.