Nigeria’s Olamide Olowe is the Youngest Black Woman Ever To Raise $10 Million in Funding
Olamide Olowe, the 26-year-old founder of Topicals Skincare is the youngest Black woman ever to raise over $2 million in venture funding. This is following Topicals Skincare’s announcement of a $10 million financing round led by CAVU Consumer Partners.
Olamide co-founded Topicals in 2020 to make safe, effective products for all skin tones after spending much of her childhood dealing with skin conditions like hyperpigmentation, boils, and ingrown hairs. Topicals is now the fastest-growing skincare brand at Sephora, with a 675% increase in sales every year. In August 2020, the brand raised $2.6 million in funding, making Olamide the first Black woman ever to raise more than $2m in venture funding according to Forbes report.
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Olamide shared the new raise on her Instagram page and talked about how far Topicals has come in the last two years. She also thanked her team and investors, including Kelly Rowland, Gabrielle Union, Hannah Bronfman, and Jay Z’s Marcy Venture Fund for working with her to build the brand:
“Raising millions and the bar at the same time 🥂 Excited to announce @Topicals $10M Series A led by CAVU Consumer Partners. In just 2 years, Topicals stats include:
675% year over year revenue growth
Fastest growing skincare brand at Sephora
1 product sold every minute this year
$100K donated to mental health orgs
Thank you to the spottie hotties, my team, and our investors like Kelly Rowland, Gabrielle Union, Hannah Bronfman, and Jay Z’s Marcy Venture Fund for working alongside me to build a category-defining brand.”
While speaking with Forbes, Olamide, who also appeared in the Forbes 30 Under 30 list for 2022, shared her top three tips for building a brand that people fall in love with quickly.
• Identify your purpose and your brand ethos, and stick to them.
• Don’t shy away from culture.
• Find true partners that share your vision and support your mission.
Congratulations Olamide, we are so proud.