Black woman-led skincare brand Topicals has made waves once again by closing another round of funding, as reported exclusively by The Business of Fashion. Founded in 2020 by Olamide Ayomikun Olowe, Topicals emerged from her personal quest for skincare solutions specifically for issues like hyperpigmentation, eczema, and dark spots. CNBC has highlighted Olowe’s own struggles with hyperpigmentation and Pseudofolliculitis Barbae (PFB), which further fueled her passion for developing effective skincare products.
About Topicals
Topicals quickly became recognized for its targeted approach to skin health. With a product lineup that includes the innovative faded under-eye masks, serum, and a brightening cleansing bar, the brand positions itself firmly within the niche of science-backed skincare. Olowe teamed up with Claudia Teng, a dermatology clinical research assistant, to bring their vision to life—ultimately choosing entrepreneurship over their original plans to attend medical school. Their collaboration embodies a unique fusion of personal experience and clinical insight.
By the time Olamide was 26, Topicals had already secured an impressive $14.8 million in funding. This achievement made her the youngest Black woman to raise $10 million in funding, marking a significant milestone in 2022, as reported by AFROTECH
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Latest Funding Round
The latest funding round saw prominent figures joining the Topicals family, including WNBA star Angel Reese. Not only is she one of the top-paid female athletes, as highlighted by Forbes, but she has also advocated for the brand by endorsing its products, including the under-eye masks through a January 2025 Vogue video. Reese’s involvement signals a growing trend of athletes stepping into business roles, further intertwining sports, culture, and beauty.
The funding round also attracted singer Rema, who is set to take on the role of creative partner, helping to target marketing efforts towards young men. This collaboration is particularly exciting as it expands Topicals’ reach into new demographics, showcasing their commitment to inclusive skincare for all. According to The Business of Fashion, several other personalities from the entertainment and sports industries participated in this funding round, further strengthening Topicals’ cultural and market position.
Olowe expressed her vision for Topicals, stating, “When you think of [Topicals], you think of our marketing, storytelling, and products. You think a lot about culture. These are people who control culture.” This statement encapsulates the brand’s ethos: forging connections that resonate beyond just skincare, tapping into cultural narratives and the influence of diverse voices.
Funding Raised to Date
While the specific terms of the most recent funding round remain undisclosed, Topicals has amassed over $22.6 million since its inception. This impressive figure speaks not only to the brand’s innovative approach but also to the growing interest and investment in Black-owned businesses. Olowe has voiced her concerns about the trend of investors pulling back from supporting Black-owned enterprises but remains steadfast and proud to have garnered support from individuals who believe in the vision of Topicals. “We are really proud that other people who have capital in the culture want [our kind of business] to grow,” she told The Business of Fashion, emphasizing the importance of community and cultural investment.
