Topicals Skincare Scores New Funding With Major Backing From Angel Reese And Rema

The skincare brand brings in high-profile cultural figures as investors, signaling confidence in community-driven growth amid a tougher funding climate for Black-owned businesses.

Skincare startup Topicals announced a new round of financing on Jan. 7, including backing from WNBA standout Angel Reese and Nigerian music star Rema, adding more cultural heavyweights to its growing list of supporters. The investment round, first reported by Business of Fashion, also features participation from other figures in sports and entertainment, though the company did not disclose the financial terms.

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, an approach Olowe said directly influenced her choice of investors in Reese and Rema.

“When you think of [Topicals], you think of our marketing, storytelling and products, and you think a lot about culture,” Olowe said in an interview with The Business of Beauty. “These are people who control culture.”

Topicals is widely known for its viral under-eye masks, priced at $22, and its $38 Faded Serum, which targets dark spots and hyperpigmentation. While many of its products address skin concerns that disproportionately affect people with darker skin tones, Olowe emphasized that the brand’s audience is far from narrow. The company has sold more than one million eye patches and now operates in the U.S., U.K., Canada, and Nigeria, with expansion into France completed last November.

Reese previously highlighted the brand in a January 2025 Vogue video, helping further amplify its reach. Rema, meanwhile, will take on a creative partner role, advising on ways to connect with younger consumers, particularly men. Additional investors include Asika, the manager of Nigerian-American music star Davido.

Olowe said the funding round also reflects a strategic response to a more challenging investment environment. “Investors are pulling back their belief in Black-owned… businesses,” she said. “We are really proud that other people who have capital in the culture want [our kind of business] to grow.”

She added that many Black-founded brands continue to be boxed in as a niche. “[The] ability to grow is stifled because they are seen as brands that are only for Black people,” Olowe said, noting that she is “living proof” that backing diverse founders can yield strong returns.

Beyond capital, Olowe said the investors’ personal platforms will help make Topicals’ marketing more efficient during an uncertain economic period. “You have to be very strategic about acquiring customers profitably, and driving revenue and lifetime value,” she said.

Looking ahead, Olowe expressed confidence in continued growth, pointing to the brand’s focus on chronic skin conditions and broader platform-building efforts. “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 said.

Olowe has previously spoken about Topicals ties to Black women. As previously reported in an episode of BLACK ENTERPRISE’s Sisters Inc., Alisa Gumbs spoke with Olowe, the youngest Black woman to raise over $1 million.

Olowe said that it was a strategic decision to utilize Black women as investors. She stated, “I wanted to get as many people who looked like me in the round; One, because we want to increase wealth in Black communities, but two, because they, like myself, have dealt with these skin conditions . . . and can lend their expertise on how to break into an industry.”

She continued, “In order to become great, you have to surround yourself with greats.”