The world's fastest growing booking platform for salons and spas has secured a $20 million investment, valuing the company at $105 million.

Shedul.com is a free SaaS (software as a service) enabled marketplace that salons and spas around the world use to streamline their business operations.

Since launch, the company has captured a large customer base of merchants in more than 120 countries, primarily in the United States, UK, Australia and Canada.

Recently the company launched its consumer marketplace Fresha.com, which connects merchants using the free business software to consumers online.

The marketplace unlocks revenue potential for merchants by leveraging the power of online bookings and automated marketing through mobile apps and integrations to Instagram, Facebook and Google.

The company has now announced that 8 million appointments are booked on its platform each month, at a value of over $270 million and growing.

Growth in active merchants is expanding at an average rate of 20 percent quarter-on-quarter, making Shedul.com which the company claims to make it the world's fastest growing beauty and wellness platform.

In just a few years since launch, the platform is on track to process $6 billion worth of appointment bookings by the end of 2019.

"Being customer-driven is ingrained into our team's core," said CEO William Zeqiri.

"Since day one, we have focused on solving major challenges to make our customers happy.

“We spend much time talking to our customers and acting on their feedback, enhancing our platform to suit their needs. That's how we've built an award-winning product that can sell itself."

"It's not only the quality of our product which gives an advantage, it's the unbeatable accessibility our platform offers customers," added Nick Miller, the company's Chief of Product.

"We solved the chicken and egg problem of reaching marketplace liquidity, letting us rapidly scale and monetise the network."