Skincare startup Topicals announced a new round of financing on January 7, including backing from major cultural figures. WNBA standout Angel Reese and Nigerian music star Rema join the growing list of supporters for the brand. The investment round adds more cultural heavyweights to a company already making waves in the beauty industry.
Founded in 2020 by Olamide Olowe, Topicals has now raised more than $22.6 million since its launch. The brand has built a strong reputation for combining clinical skincare with culturally resonant marketing strategies. The investment round, first reported by Business of Fashion, also features participation from other figures in sports and entertainment.
Angel Reese and Rema Join Topicals as Investors Controlling Culture
Olowe said her choice of investors in Reese and Rema was directly influenced by their cultural impact. “When you think of [Topicals], you think of our marketing, storytelling and products, and you think a lot about culture,” Olowe explained. “These are people who control culture,” she added about why these particular investors made sense strategically.
The company did not disclose the financial terms of the investment round publicly or to media outlets. However, the participation of high-profile cultural figures signals confidence in community-driven growth amid challenging times. The backing comes during a tougher funding climate for Black-owned businesses across all industries nationwide.
Reese previously highlighted the brand in a January 2025 Vogue video, helping further amplify its reach significantly. Rema, meanwhile, will take on a creative partner role beyond simple financial investment in the company. He will advise on ways to connect with younger consumers, particularly men entering the skincare market.
Viral Under-Eye Masks and Faded Serum Drive Topicals’ Product Success
Topicals is widely known for its viral under-eye masks, priced at $22, which became bestsellers. The company has sold more than one million eye patches since launching the popular product line. The $38 Faded Serum, which targets dark spots and hyperpigmentation, also drives substantial revenue for the brand.
While many products address skin concerns that disproportionately affect people with darker skin tones, Olowe emphasizes diversity. The brand’s audience is far from narrow, serving customers across all racial and ethnic backgrounds. Olowe wants to avoid being pigeonholed as only serving Black consumers despite the brand’s cultural roots.
The company now operates in the U.S., U.K., Canada, and Nigeria, with expansion into France completed last November. This international growth demonstrates that Topicals’ appeal transcends geographic and cultural boundaries successfully. The brand’s expansion strategy prioritizes markets where its messaging and products resonate with diverse consumer bases.
Black Woman Founder Responds to Challenging Investment Environment for Diverse Businesses
Olowe said the funding round also reflects a strategic response to a more challenging investment environment currently. “Investors are pulling back their belief in Black-owned… businesses,” she stated about current funding climate realities. This pullback makes securing investment particularly difficult for Black founders seeking growth capital for their companies.
“We are really proud that other people who have capital in the culture want [our kind of business] to grow,” Olowe continued. Her statement acknowledges that culturally connected investors understand the brand’s value proposition better than traditional venture capitalists. These investors bring both financial resources and authentic understanding of the communities Topicals serves primarily.
She added that many Black-founded brands continue to be boxed in as a niche unfairly by investors. “[The] ability to grow is stifled because they are seen as brands that are only for Black people,” Olowe explained. This limiting perception prevents Black-founded brands from accessing capital that white-founded brands receive more easily for expansion.
Olamide Olowe Proves Backing Diverse Founders Yields Strong Returns for Investors
Olowe noted that she is “living proof” that backing diverse founders can yield strong returns for investors. Her success with Topicals demonstrates that Black-founded beauty brands can achieve substantial growth and profitability. The company’s $22.6 million in funding and international expansion validate her business model and market approach.
Beyond capital, Olowe said the investors’ personal platforms will help make Topicals’ marketing more efficient during uncertainty. “You have to be very strategic about acquiring customers profitably, and driving revenue and lifetime value,” she explained. Celebrity investors provide built-in marketing channels that reduce customer acquisition costs significantly for the brand.
The strategic use of culturally influential investors serves dual purposes of funding and marketing simultaneously and cost-effectively. Their social media followings and public platforms provide free advertising worth potentially millions of dollars. This approach maximizes the value of each investment dollar raised compared to traditional venture capital funding.
Additional Investors Include Davido’s Manager Asika Supporting Nigerian Market Growth
Additional investors include Asika, the manager of Nigerian-American music star Davido, bringing entertainment industry connections. His participation signals Topicals’ commitment to the Nigerian market specifically where it already operates successfully. Asika’s involvement provides local expertise and connections that can accelerate growth in this strategic market.
The Nigerian investor participation aligns with Topicals’ expansion strategy focusing on African markets with growing middle classes. Nigeria represents Africa’s largest economy and a massive potential market for beauty and skincare products. Olowe’s own background and the brand’s cultural positioning make Nigeria a natural growth market for expansion.
The diverse investor base spanning sports, music, and entertainment creates multiple touchpoints with different consumer demographics. Each investor brings their unique audience and influence that can introduce Topicals to new customers. This multi-channel approach to investor selection demonstrates sophisticated thinking about how capital can accelerate growth beyond funding.
Youngest Black Woman to Raise Over $1 Million Now Leads $22 Million Company
Olowe previously made history as the youngest Black woman to raise over $1 million in venture funding. That early milestone demonstrated her ability to attract investment despite systemic barriers facing Black women founders. Her continued success in raising capital proves that initial achievement wasn’t a fluke but the beginning.
As previously reported in an episode of BLACK ENTERPRISE’s Sisters Inc., Alisa Gumbs spoke with Olowe about her journey. Olowe stated that utilizing Black women as investors was a strategic decision with multiple benefits. “I wanted to get as many people who looked like me in the round,” she explained deliberately.
“One, because we want to increase wealth in Black communities, but two, because they, like myself, have dealt with these skin conditions,” Olowe continued. These investors can “lend their expertise on how to break into an industry” based on lived experience. Their personal understanding of the problems Topicals solves makes them valuable advisors beyond just funding sources.
Strategic Customer Acquisition and Platform Building Drive 2026 Growth Plans
Looking ahead, Olowe expressed confidence in continued growth, pointing to the brand’s focus on chronic skin conditions. The company is building broader platform efforts beyond just selling individual products to customers. “We’ve widened the customer base . . . in 2026, a lot of our growth is about how we’re using the brand as a platform,” she stated.
The platform approach suggests Topicals may expand into content, community building, or education beyond e-commerce transactions. This strategy creates deeper customer relationships and increases lifetime value beyond one-time product purchases. Platform thinking positions Topicals as a skincare authority rather than just another beauty brand selling products.
Olowe’s emphasis on profitable customer acquisition reflects lessons learned from other direct-to-consumer brands that grew unsustainably. The focus on driving revenue and lifetime value demonstrates financial discipline that investors appreciate increasingly. Her strategic approach combines growth ambition with profitability consciousness that separates successful brands from failures.
Founder’s Philosophy: Surround Yourself With Greats to Become Great
Olowe’s investment strategy reflects her personal philosophy about achieving excellence through association with excellent people. “In order to become great, you have to surround yourself with greats,” she stated about her approach. This mindset drives her investor selection beyond simply accepting capital from whoever offers it first.
Her deliberate curation of investors who bring cultural influence, lived experience, and strategic value demonstrates sophisticated thinking. Olowe understands that early investors become partners whose networks and expertise shape company trajectory significantly. Choosing investors carefully prevents misaligned partnerships that can constrain growth or compromise brand integrity later.
The success of Topicals validates Olowe’s approach to building a beauty brand centered on cultural authenticity and community. Her ability to attract major cultural figures as investors demonstrates the brand’s resonance and growth potential. Topicals proves that Black-founded beauty brands can compete nationally and internationally when properly resourced and strategically positioned.