Photo: Rando Rannus
Siena Secondary Fund, an investment fund founded in early 2021, which focuses on secondary market transactions in high-growth late-stage startups by providing liquidity to early investors, (ex-)employees and founders, made its first deal in Poland, acquiring a stake in Booksy - world's leading beauty services marketplace powered by a category-specific mobile SaaS platform for beauty providers.
The Booksy app is used by customers to book and pay for beauty appointments with local businesses. Salons, nail bars and barbershops can manage the bookings, payments, and customer base via the accompanying Booksy Biz app. The platform also allows salons to sell other products via Booksy E-Commerce, which acts as a marketplace allowing customers to discover and book other local stylists, nail technicians, etc.
Booksy was founded by Polish entrepreneurs Stefan Batory (CEO) and Konrad Howard and still keeps the majority of its operations in Poland. The startup launched in 2014 but is now in the US (its largest market), the UK, Poland, Spain, Brazil, South Africa and several others. It is the number-one beauty booking app in each country, with 13 million consumers on the app. For its continued strong growth Booksy has been listed for several years in a16z top 100 marketplaces.
In 2021, Booksy raised a series C round of $70 million from tier 1 investment funds like Cat Rock Capital, Sprints Capital, OpenOcean, Piton Capital, VNV Global and many others with the aim of continuing rapid growth across different countries and product lines.
"We are thrilled to have our 1st investment in Poland - one of the largest countries in the CEE, which is well known for its technological talent base and growing startup ecosystem. We believe that Booksy has all the prerequisites of becoming the next Polish unicorn", commented Rando Rannus, partner of Siena Secondary Fund.
Siena Secondary Fund has raised funds from over 80 investors from successful old and new economy entrepreneurs across Europe and has currently acquired stakes in several well-known start-ups such as Bolt, Testlio, Starship Technologies, Veriff, Kry, TransferGo and Printify.Additional information:
Siena Secondary Fund - www.siena2ndary.com
Booksy - www.booksy.com
Photo credit:https://unsplash.com/@gregtrow; Siena Secondary Fund