Beauty platform Zuri raises $1.25m

Beauty technology platform Zuri has successfully concluded its latest financing round, raising $1.25 million.

Since its establishment in 2016, Zuri has demonstrated significant growth, attracting investors from diverse backgrounds. The company has successfully secured financial resources from various sources, including XSML Capital, Rawbank’s Ladies First programme, and angel investors. These funds will be utilised to expand Zuri’s model across Africa and Europe, as well as develop its tech-enabled platform.

Zuri has a proven model which it has scaled in Rwanda, Uganda, the Democratic Republic of Congo and online through its ecommerce site. Zuri offers a wide range of hair and beauty products through its tech-enabled platform which helps connects beauty entrepreneurs to customers.

“The success of our latest financing round testifies to the confidence our investors have placed in Zuri and in recognising the immense potential for growth that lies within the black female demographic in Africa and Europe,” said Gisela Van Houcke, CEO and founder of Zuri. “The new $5 million funding round we are launching will enable us to accelerate our growth in Africa and internationally, while developing exciting new products to meet emerging market demands. We are also in talks with other investors to support our fundraising ambitions and help Zuri reach its full potential.”

Innocente Lukowa Mbemba, investment associate at XSML Capital, said: “Led by a driven local entrepreneur and role model, Zuri is serving the growing group of middle-class working women in the markets where we invest. It is using innovative tools to build its brand and accelerate its growth.”