Rapunzel of Sweden, a Umeå, Sweden-based hair extensions company, received a new investment from Valedo Partners Fund II AB.
The amount of the investment was not disclosed. Alongside Valedo, previous owners, employees and board members will invest in the company. Arthur Engel (former CEO of Gant and Björn Borg) has been appointed Chairman and Ida Backlund (CEO and founder of Rapunzel) and Stefan Löfgren (Purchasing Manager and founder of Rapunzel) have been appointed board members.
The company intends to use the funds for continued expansion and growth.
Founded 2007 by Ida Backlund and Stefan Löfgren, Rapunzel offers hair extensions and related products and services. It operates an online store recently established owned hair salons located in Umeå, Stockholm, Gothenburg and Malmö.
Customers are mainly private individuals but it also sells to independent hair salons and resellers in Sweden, Finland, Norway, Denmark and Germany.
Sales amounts to approximately SEK 120m.
FinSMEs
23/03/2015