Skincare brand Topicals is leaning deeper into culture-led growth as Nigerian music star Rema and WNBA standout Angel Reese join the company as investors in its latest funding round, signalling a shift away from traditional venture capital toward influence-driven backing.
The move, first reported by Business of Fashion, reflects a deliberate strategy by Topicals to partner with figures who don’t just endorse the brand but actively shape cultural conversations. Rather than relying on institutional investors, the company is bringing on artists, athletes, and tastemakers who already resonate with its audience and values.
Founded in 2020 by Olamide Olowe, Topicals has raised more than $22.6 million to date and built a strong reputation for tackling skin concerns such as hyperpigmentation and dark spots through products like its $38 Faded Serum and $22 under-eye masks. Beyond product innovation, the brand has distinguished itself through storytelling rooted in identity, community, and culture.
“When you think of Topicals, you think of our marketing, storytelling, and products—and you think a lot about culture,” Olowe said. “These are people who control culture.”
A Strategic Response to a Tough Funding Climate
Topicals’ decision comes at a time when early-stage beauty brands—particularly Black-owned ones—are facing tightening access to capital. Despite ending 2024 as one of Sephora’s fastest-growing skincare brands, Olowe says performance alone is no longer enough to secure investor confidence.
“Investors are pulling back their belief in Black-owned businesses,” she noted, adding that many are still incorrectly perceived as niche or limited in audience. “We are proud that people who have capital in the culture want our kind of business to grow.”
In an open letter, Olowe warned that the beauty industry is increasingly rewarding scale over originality and infrastructure over insight. For Topicals, that reality has reinforced the importance of aligning with cultural leaders who understand its mission and long-term vision.
Culture as Capital
Alongside Angel Reese and Rema, the investor group reportedly includes other entertainment and sports figures, including Asika, manager to Nigerian superstar Davido. The approach underscores a belief that cultural credibility can be as powerful as financial capital—particularly for consumer brands built on authenticity.
Rema’s involvement goes beyond financial backing. The global Afrobeats star will also serve as a creative partner, advising Topicals on how to engage younger audiences, especially men, as the brand looks to expand its reach in 2026.
This blend of culture and commerce reflects a broader trend in consumer startups, where influence, community trust, and storytelling are becoming critical growth drivers. For Topicals, it’s also a bet that staying culturally relevant will protect the brand in an increasingly competitive and capital-constrained market.
“Our commitment is long-term. Our conviction is unchanged,” Olowe said. “The future we’re building through Topicals is one where culture and commerce reinforce each other, not compete.”
As funding dynamics shift, Topicals’ strategy may offer a blueprint for how modern brands—especially those rooted in underrepresented communities—can grow by turning cultural alignment into a sustainable business advantage.
