Topicals founder Olamide Olowe is starting 2026 with a massive win for the Black beauty industry. On January 7, the skincare sensation announced a fresh round of funding from high-profile stars like WNBA’s Angel Reese and Nigerian singer Rema. This new investment comes at a critical time when many Black-owned brands are struggling to find financial backing. By bringing in cultural icons as partners, Olowe is proving that community and culture are powerful assets in business.
This latest financing round brings the total amount raised by Topicals to over $22.6 million since its 2020 launch. While the exact financial terms were not made public, the message is clear: the brand is scaling fast. Known for its viral “Faded Serum” and under-eye masks, Topicals has already sold over one million eye patches globally. Now, with the support of some of the biggest names in sports and music, the brand is ready to expand its reach even further into international markets.
Strategic Partnerships with Culture Shapers Angel Reese and Rema
Choosing investors like Angel Reese and Rema was a calculated move by Olowe to keep the brand rooted in culture. Reese, a standout in the WNBA, has already helped the brand’s visibility by featuring Topicals in a popular Vogue video. Meanwhile, Afrobeats star Rema will serve as a creative partner to help the brand connect with younger audiences. Specifically, he will advise on how to make skincare more approachable for men, a growing segment of the beauty market.
These partners do more than just provide money; they control the conversations that matter to Gen Z and multicultural consumers. Olowe believes that working with “greats” is the only way to build a brand that lasts for decades. By surrounding herself with people who understand the lifestyle of her customers, she can drive growth without relying on traditional advertising. This cultural capital is becoming a “non-negotiable” for survival in the current economy.
Overcoming Systematic Funding Barriers for Black Beauty Brands
Despite Topicals’ success, the broader landscape for Black entrepreneurs remains incredibly difficult. Recent data shows that venture capital funding for Black-owned businesses has plummeted significantly in recent years. Many investors are pulling back, often “boxing in” Black brands by viewing them as niche rather than global. Olowe addressed this directly, stating that the ability to grow is often stifled by a lack of belief from traditional financial institutions.
“Investors are pulling back their belief in Black-owned… businesses. We are really proud that other people who have capital in the culture want our kind of business to grow,” Olowe shared.
She sees herself as “living proof” that diverse founders can deliver high returns for their investors. By intentionally inviting Black women and cultural leaders into her funding rounds, she aims to increase wealth within the community. Her strategy challenges the idea that a brand must appeal to everyone in the same way to be successful. Instead, she focuses on solving chronic skin issues like hyperpigmentation that mainstream brands often ignore.
Future Growth and Global Expansion Plans for 2026
Looking ahead, Topicals is using its new capital to fuel an aggressive global expansion strategy. The company successfully moved into the French market last November and already has a strong presence in the U.K., Canada, and Nigeria. In 2026, the focus will shift toward turning the brand into a broader platform for storytelling and community health. Olowe plans to use the brand’s viral status to tackle the stigma around chronic skin conditions.
The brand’s “Go Big or Go Home” energy is also moving into experiential marketing. Last year, Topicals hosted a “Soft Life Ski” trip in the French Alps for the Black diaspora, showing that they are about more than just selling tubes of cream. By maintaining operational excellence and a loyal fan base, Topicals is positioning itself to weather any economic storms. Olowe is not just building a skincare company; she is building the infrastructure for the next decade of inclusive beauty.
