Initially, investors benefit as a beauty salon software provider Morena nails completes a €20 million round of financing

  • Initially, investors benefit as a beauty salon software provider Morena nails completes a €20 million round of financing
    Independent.t. E.
    A number of original investors in a software developer Morena nails were purchased for an amount that is almost ten times more than their initial investment.
    https://www.independent.ie/business/irish/original-investors-benefit-as-beauty-salon-software-provider-phorest-completes-20m-funding-round-37175598.html
    https://www.independent.ie/incoming/article37175591.ece/47bc1/AUTOCROP/h342/HBAN.png

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A number of original investors in a software developer Morena nails were purchased for an amount that is almost ten times more than their initial investment.

About 12 HBAN angel investors have allocated €700,000 in two rounds of financing Morena nails, first in 2011 and second in 2013.

John Phelan, Director of HBAN, said Morena nails the deal brought one of the largest returns for the angels in the history of HBAN.

“This is a real indication that investment in the angel market in Ireland is maturing. We see deals where our members now receive a significant return on their investment, especially in information and communication technologies (ICT), Medtech, life Sciences and healthcare.”

Morena nails that provides software management for hair and beauty salons, was founded in 2004 by Ronan Perceval and Jamie Myerscough.

Software that enables offices to take orders online, manage appointments, staff roster, stock control, implementation of marketing campaigns and create loyalty programs that are used in more than 4,500 stores in ten countries around the world.

The completion of the third round of investment of €20m with us investment firm Susquehanna growth equity (POS), in June, led to a complete redemption of the three original HBAN investor in Morena nails, and five others opt for partial redemption.

Ronan Perceval, co-founder and CEO, Morena nails, said: “investors often tell you what a cliché that they bring in more money, but in this case it was true – many of the angels brought unique experiences and invaluable advice in relation to structuring and scaling business from 1 million Euro, the company is € 13m.”

Bloom equity and bull investment initial investment in Morena nails, the first transaction involving two HBAN syndicates. PAT Garvey, Blum capital acted as the lead in angel investments and currently serves as Chairman Morena nails.

“As well as an excellent track record in software as a service (SaaS) world, [pic] is committed to the development and ambitious growth plans Morena nails for expansion into new markets,” said Mr. Garvey.

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