Six-figure funding secured for tech start-up

A Stafford tech start-up has secured £500,000 Series A funding from first-time investors, Social Money Ltd.

Faces Consent, an aesthetics and beauty app was launched to house consent forms for its founders’ own private aesthetic clinic.

Ben O’Brien and Ashley Simpson-Davies said they realised other practitioners were eager to use their technology and therefore granted free access to help build a mass of users.

Since then, Faces Consent has seen growth with more than 45,000 registered users, 90% of which are UK based and has been valued at £5m.

Whilst the app is free, the firm sees an average of £20,000 of pharmaceutical sales each day, as products such as toxins and fillers can be purchased directly from the app.

Ben O’Brien, co-founder and managing director at Faces Consent, comments: “This is a sizable investment for Faces, and one that can help transform our growing business. We plan to make more hires to strengthen our tech team and to develop further our plans to launch our own pharmaceutical product range.

“What’s really exciting about this investment is the added value we get through Social Money’s expertise. The team has really strong tech expertise and is always one step ahead of the market. Together we make a formidable team.”

In exchange for the £500,000 investment, the founders are giving 10% of their business to Social Money Ltd, which is the parent company of millennial buy now, pay later finance firm – Payl8r and bridge lending business -SoMo.

Louis Alexander, owner and Director of Social Money Ltd, says: “This is the first time that Social Money has invested outside of our business. It’s not something that we were actively seeking to do, but when an opportunity as strong as this comes along, you have to take it.”