An on-demand beauty marketplace, which allows customers to order a host of beauty services to their desired location, has raised £2m to accelerate its growth in the North West by doubling down on its existing operations in Manchester and Liverpool.
Ruuby has raised the money in a round led by the NPIF II – Praetura Equity Finance, which is managed by Praetura as part of the Northern Powerhouse Investment Fund II, who provided £1.5m of the investment.
The company also raised further investment from its existing shareholders, which include notable female angels Michelle Kennedy and Whitney Bromberg Hawkings as well as former Bulgari CEO Francesco Trapani.
Ruuby was founded in 2016 by Forbes 30 under 30 honouree, Venetia Archer, after she spotted a gap in the market for at-home beauty service delivery. Since then, Lancashire-based Ruuby has delivered nearly 500,000 services across multiple groups of treatments, such as hair, nails, massage, waxing, IV drips and cosmetic injectables.
Coming off the heels of a 500 per cent surge in sales post-COVID, the funding will be used to further improve the platform’s efficiency and support the expansion of its service across the North West. This scale-up means that over 200 beauty and wellness professionals will secure jobs through the platform to cater for tens of thousands of customers in the region.
The capital will also boost Ruuby’s business-to-business offering which includes event pop-ups, client hospitality and branded experiences. This growth will build on an already extensive hospitality portfolio including globally renowned hotels in the region such as Hotel Gotham, Stock Exchange, Hyatt and Dakota.
The business now has over 150,000 users, including stars Abbey Clancy, Peter Crouch and Amy Jackson and celebrities such as Victoria Beckham. Ruuby also collaborates with over 3,000 beauty professionals, delivering treatments within 90 minutes across the UK.
In December last year, Ruuby’s Northern practitioners worked with luxury fashion-house Chanel to deliver make-up and hair styling to 25 of their VIPs for their debut Manchester Cruise Show.
Ruuby is also branching out internationally by taking its services to Switzerland, a further step in its mission to deliver top-tier beauty services across Europe.
Venetia Archer CEO and founder of Ruuby said:
“In a world where you can request food to your door in minutes, or a car to pick you up in seconds, it seemed natural that beauty services should follow.
Our expansion plans in the UK and Europe are a testament to the demand for high-quality, on-the-go beauty services, and we are excited to bring Ruuby’s unique offerings to more people and businesses.”
Louise Chapman NPIF II fund principal at Praetura Ventures said:
“With its growing customer base and established partnerships with many local businesses, Ruuby has spotted an untapped opportunity in the North West, which it is looking to capitalise on further. By doubling down on its growth in Manchester and Liverpool, Venetia and her team are poised to create more work for beauty therapists and new opportunities in the region. Above all, we’re delighted to be supporting Ruuby with NPIF II funding and can’t wait to see what the future brings for this growing female-founded business.”
Simon Cunnington Director at British Business Bank said:
“Ruuby is exactly the kind of business that the Northern Powerhouse Investment Fund II is looking to spur on further in its growth journey. Equity investment is a powerful tool to expand a business, so we are excited to see this round enable the company to meet new business opportunities and help it expand to grow further in the North West.”
The £660m Northern Powerhouse Investment Fund II (NPIFII) covers the entire North of England and provides loans from £25k to £2m and equity investment up to £5m to help a range of small and medium sized businesses to start up, scale up or stay ahead.
The purpose of the Northern Powerhouse Investment Fund II is to drive sustainable economic growth by supporting innovation and creating local opportunity for new and growing businesses across the North of England. The Northern Powerhouse Investment Fund II will increase the supply and diversity of early-stage finance for the North’s smaller businesses, providing funds to firms that might otherwise not receive investment and help to break down barriers in access to finance.