Spiltan Invest becomes a minority shareholder in Switch Nails, a rapidly growing leader within press-on nails
Switch Nails was founded in 2021 with a vision to redefine how women buy, apply, and wear press-on nails. By combining a strong brand with a unique product, Switch Nails has quickly established itself as a leading player in its niche. With a clear focus on quality, design, and simplicity, Switch Nails targets a rapidly growing and loyal customer base of conscious consumers.
“It’s incredibly rewarding that our product has been so well received by the market. We have many plans for the Company going forward, with international expansion being one of our main current priorities. We have also begun to focus more on physical presence”
Celina Rydén, Creative Director and Co-founder of Switch Nails
Merge ran a structured process that attracted both financial and strategic investors
The founders of Switch Nails were searching for a partner who could contribute strategically to the Company’s ambition to continue revolutionising the nail industry, with a focus on international expansion and organisational scalability. Merge structured and led the process, which resulted in Spiltan Invest joining as a long-term and committed investor.
“From the very beginning, we felt a strong sense of confidence in Merge. They are both experienced and knowledgeable within consumer brands and have demonstrated a deep understanding of us as founders and of Switch Nails as a company throughout the entire process. We highly recommend the team at Merge and are very pleased with the process, materials, and outcome, and we hope to have the opportunity to work together again in the future”
Hakar Mayi, CEO and Co-founder of Switch Nails
Spiltan Invest sees strong potential in the company and the market
Switch Nails operates in a beauty category experiencing strong global growth, where consumers increasingly seek high-quality alternatives to expensive and uncertain salon treatments. The company has achieved significant sales growth and built a loyal community through social media and influencers.
“We see a strong combination of an attractive market, a driven founder team, and a scalable business model with high gross margins. Switch Nails is an example of the type of brand-driven growth company we like to invest in”
Per H. Börjesson, CEO of Spiltan Invest
A new phase for Switch Nails
With Spiltan Invest as a new shareholder, Switch Nails is entering an exciting future with continued focus on growth and international expansion.
“It’s incredibly rewarding that our product has been so well received by the market. We have many plans for the Company going forward, with international expansion being one of our main current priorities. We have also begun to focus more on physical presence. Having Spiltan step in as a stable and long-term shareholder is something we are grateful for”
Hakar Mayi, CEO and Co-founder of Switch Nails
Merge appreciates the opportunity to have supported Switch Nails in the transaction and looks forward to following the Company’s continued development with Spiltan Invest. For more information on how Merge can help your company find the right investors for your next growth phase, do not hesitate to contact us for an initial conversation.
