Fundraising Fox

Treatwell

Acquired

London, GB Β· 2 known investors

Treatwell operates a salon management software connected to a consumer booking platform for the hair and beauty industry, serving over 75,000 salon partners across 15 countries in Europe. It processes bookings between customers and salons, aiming to bring the industry online.

Also known as Hotspring Ventures Limited Β· Treatwell Limited Β· Wahanda

Investors Β· 2

Company profile

researched Aug 2026

Treatwell operates a consumer marketplace for booking hair and beauty appointments, available via website and mobile app, together with management software sold to the salons listed on it. Consumers search by treatment category β€” hair, hair removal, massage, nails, face, body and men's grooming β€” browse venue menus, prices and starred customer reviews, and book 24/7, including last-minute and off-peak slots. Additional consumer products include gift cards, a Treatwell Rewards points scheme, editorial content (the Lookbook, Treatment Files and treatment guides) and annual "Top Rated" salon awards.

On the supply side the company positions itself as salon management software connected to a booking platform. Its partner-facing products are branded Treatwell Connect and Treatwell Pro, with salons able to request a demo through the partner site. Company materials state it works with over 75,000 salon partners across 15 countries and processes over 5 million bookings a month, with a team of around 700 people. The company frames its opportunity around the low digital penetration of the sector, stating that 80% of salons still manage their business on pen and paper and only 5% of bookings are made online. The UK entity is Treatwell Limited (company number 06457679), headquartered at 6 St Andrew Street, London EC4A 3AE.

Founding story

The company was founded as Wahanda. Its CEO Lopo Champalimaud has said the idea came from an unsuccessful late-night attempt to find a massage, when salons were closed, fully booked or unresponsive, and existing websites did not let him search a specific treatment, see availability or book. Champalimaud, who grew up in Montreal and moved to London in 2001, had worked at a private equity firm, founded an online market research startup and run the lifestyle business at Lastminute.com, where a small spa business built on ticketing technology suggested a larger opportunity across hair and beauty. He built Wahanda in 2009 with a group of developers and a co-founder who left shortly afterwards, positioning it as an "OpenTable for spas and salons". Secondary coverage instead dates the founding to 2008 in London, naming Salim Mitha among the co-founders and describing an initial positioning as a search directory and review site for holistic wellness and spa retreats, with early backing associated with Fidelity and Benchmark.

Business model

Two-sided model combining a consumer booking marketplace with subscription salon management software (Connect and Pro). Secondary coverage describes a commercial mix of software subscriptions plus a commission of around 20% on new marketplace bookings, and an earlier shift toward a SaaS-enabled marketplace intended to raise recurring revenue and partner retention.

Revenue is described in secondary coverage as coming from salon software subscriptions combined with commission on bookings generated through the marketplace; consumer-side products include gift cards and a rewards programme.

Traction

Company materials cite over 75,000 salon partners in 15 countries, more than 5 million bookings a month and around 700 staff. Earlier press reported 10 million users and projected sales of $108 million for 2016, roughly 500 employees in 2017 with 150 in London, and management statements that the platform delivered 15-20% incremental business to salons with 20% of a salon's bookings coming through it. Secondary coverage cites over 100 million annual bookings, 55,000+ salons across 13 countries, more than 30,000 salons digitized by the end of 2019 and user growth above 20% year-on-year after the 2016 rebrand.

Latest developments

The consumer site promotes Treatwell Rewards points, gift cards, smart last-minute and off-peak pricing and a five-year Top Rated salon award list, and directs salons to Treatwell Pro. Secondary coverage dated March 2026 describes recent emphasis on AI-driven dynamic pricing, the Treatwell Pro management suite and a commercial model weighted toward software subscriptions plus commission on new marketplace bookings.

β–ΈFull profile β€” market position, technology, go-to-market, geography, history, risks & controversies

Market position

Described by press coverage in 2017 as Europe's biggest beauty-booking site, spanning 12 countries with the UK as its largest market. Recruit Holdings' 2015 announcement identified Hotspring (Wahanda) as the leader in European online hair and beauty bookings, with the then-separate Treatwell Holdings B.V. ranked second. Secondary coverage describes it as Europe's largest hair and beauty booking platform, strongest in the UK, Germany and France, competing with Booksy, Fresha, Vagaro, StyleSeat and Zenoti.

Combines a demand-generating consumer marketplace with the salon's own scheduling and operations software, allowing 24/7 and last-minute booking, treatment-level search, transparent pricing and verified reviews in a sector where most venues were still managed on paper. Management has also cited the privacy of booking online rather than by phone as a driver of usage.

Technology

A booking platform and mobile app supporting real-time availability, treatment-level search, reviews and last-minute and off-peak booking, connected to salon management software sold as Treatwell Connect and Treatwell Pro. Secondary coverage describes machine-learning dynamic pricing for off-peak slots and an ERP-style Pro suite covering inventory, staff commissions and automated marketing.

Go-to-market

Consumer acquisition through its website and mobile app, SEO-oriented city and treatment landing pages, editorial content, an affiliate programme, gift cards, a newsletter and targeted promotional codes used for acquisition and retention (used more heavily in newly entered markets and later triggered by customer behaviour). Salons are recruited via a partner sign-up funnel offering a demo of the Treatwell Pro salon management software, supported by dedicated partner help centres.

Consumers booking hair, beauty, grooming, massage, spa and body treatments, and the salons, barbershops, nail bars and spas that list on the platform β€” predominantly small independent venues, since chains were said to account for less than 3% of the European market.

Geography

Headquartered in London (6 St Andrew Street, EC4A 3AE) with country sites for the United Kingdom, Ireland, Belgium, Germany, Spain, France, Italy, Lithuania, Netherlands, Portugal, Switzerland, Austria and Greece. Earlier coverage cites offices in London, Berlin and Amsterdam, with the UK as the largest market.

History

Wahanda expanded from one country to 12 within 18 months and made several acquisitions, leaving it with five brand names across its markets. It launched salon software in 2012. Secondary coverage describes acquisitions of Salonmeister in Germany, Zenios in France and the Dutch company Treatwell, and a $46M Series C in 2014. In June 2015 Recruit Holdings announced that Hotspring Ventures Limited, its UK subsidiary operating Wahanda, would acquire 100% of Amsterdam-based Treatwell Holdings B.V., which had launched online beauty booking in the Netherlands in 2012 and operated in the Netherlands, Belgium and Germany with about 2,500 listed salons; Treatwell's management took shares in Recruit's subsidiary RGF Beauty UK Ltd. The company liked the Treatwell name and adopted it group-wide in January 2016. Secondary coverage places the Recruit majority acquisition at around EUR 171 million and reports subsequent milestones including pandemic-era partner fee waivers and the Treatwell Rewards launch in 2020, AI-driven dynamic pricing in 2023-2024 and the Treatwell Pro management suite in 2025.

Risks & controversies

The business depends on converting a sector that remains largely offline, with company materials stating 80% of salons still use pen and paper and only 5% of bookings are made online. It operates in a crowded competitive set including Booksy, Fresha, Vagaro, StyleSeat and Zenoti, and was materially exposed to the COVID-19 closures, prompting waived partner subscription fees. Financial disclosures for the acquired Dutch entity showed losses before the 2015 transaction (EUR -508,523 net income for the year ended December 2014).

Compiled by commissioned research from 8 cited public sources β€” announcements, filings, and press listed under research sources below.

Key figures

latest reported
Annual bookingsMar 2026100,000,000 bookings per year
Consolidated net sales (Treatwell Holdings B.V.)Dec 2014239,868 EUR
Countries servedJan 202615
Digitized salonsDec 201930,000 salons
EmployeesJan 2026700 people
Listed salons (Treatwell Holdings B.V. prior to acquisition)May 20152,500 salons
Monthly bookingsJan 20265,000,000 bookings per month
Projected salesJan 2016$108M
Registered usersJan 201610,000,000 users
Salon partnersMar 202655,000 salons
Salons still using pen and paperJan 202680%
Share of bookings made online in the industryJan 20265%
Share of bookings made while salon closedMay 201750%
Share of bookings made within three hours of appointmentMay 201720%

Company-reported or press-reported figures, each dated to when it was claimed β€” not independently audited.

Timeline Β· 8

launches, deals, and filings
Jan 2025
Launch of Treatwell Pro

Secondary coverage reports the launch of Treatwell Pro, an ERP-style salon management suite covering inventory, staff commissions and automated marketing.

source β†—

Jan 2020
COVID-19 partner support and Treatwell Rewards

Secondary coverage reports the company waived partner subscription fees during the pandemic and launched the Treatwell Rewards loyalty programme to stimulate demand at reopening.

source β†—

Jan 2016
Rebrand from Wahanda to Treatwell

After operating under five different brand names across 12 countries, the company adopted the Treatwell name acquired with the Dutch business, rebranding in January 2016.

source β†—

Jun 2015
Recruit Holdings, via Hotspring Ventures, agrees to acquire 100% of Treatwell Holdings B.V.

Recruit Holdings announced that its UK consolidated subsidiary Hotspring Ventures Limited, operator of the Wahanda online beauty booking service, would acquire 100% of the shares of Amsterdam-based Treatwell Holdings B.V., a European online hair and beauty marketplace with approximately 2,500 listed salons as of end of May 2015. Treatwell's existing management team took shares in RGF Beauty UK Ltd. Sellers included Project A Ventures (24.84%) and Piton Capital (17.74%).

source β†—

Jan 2015
Recruit Holdings acquires majority stake in the business for approximately EUR 171 million

Secondary coverage reports Recruit Holdings acquired a majority stake in the company for approximately EUR 171 million in 2015, providing capital for its acquisition-led expansion.

source β†—

Jan 2015
Acquisition of Dutch company Treatwell reported at $38 million

Press coverage states the initial acquisition of Treatwell cost $38 million (EUR 34 million), citing TechCrunch.

$38M source β†—

Jan 2012
Acquisitions of Salonmeister, Zenios and the Dutch Treatwell

Secondary coverage describes acquisitions of local competitors Salonmeister (Germany), Zenios (France) and Treatwell (Netherlands) as part of a European consolidation strategy between 2012 and 2015.

source β†—

Jan 2012
Launch of salon management software

The company launched software for salons in 2012 alongside its consumer booking platform.

source β†—

Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.

β–ΈResearch sources Β· 8

primary sources listed

8 public sources were cited for this profile; the first-party ones are listed here.

Frequently asked questions

What does Treatwell do?
Treatwell runs a European hair and beauty booking marketplace paired with salon management software for partner venues.
Who are Treatwell's investors?
Treatwell's investors include Manta Ray Ventures, V3 Ventures.
Where is Treatwell headquartered?
Treatwell is headquartered in London, GB.