Wahanda has made its fourth European acquisition in the past six months, this time scooping up Dutch startup Treatwell for £24m.
Treatwell’s platform brings with it some 2,500 spas and salons located across The Netherlands, Belgium and Germany, and along with the network acquired with the buyout of Germany’s Salonmeister back in October 2014, Wahanda now hosts 15,000 beauty service providers across Europe. Wahanda says it also now has 20 million users.
“By bringing Wahanda and Treatwell together, we have formed the undisputed leader in the European market,” said Laurens Groenendijk, cofounder 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.”
Treatwell’s two investors, Germany’s Project A Ventures and London’s Piton Capital, will now make a clean exit. “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,” said 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 been more able to splash the cash since it received $46m as part of a nine-figure deal with Japan’s Recruit Holdings in May, making it the company’s only shareholder.