We Did It, Bs! Colourette Closes Seed Funding led by Foxmont Capital PartnersPosted by Team Colourette on
Colourette Cosmetics and Fresh Formula are Filipino beauty and skincare brands under Niv Della Beauty Innovations, Inc.
Foxmont Capital Partners is an independent venture capital firm with a focus on
Filipino-founded and Filipino-focused early stage startups that have proven to scale effectively and lead the Philippine digital evolution.
Since its founding, Colourette has fostered a community mindset by utilizing robust social and digital community-powered marketing strategies; actively engaging with the Colourette Club in product creation and innovation. Standing at the center of the growing community is Colourette founder and CEO, Nina Dizon-Cabrera. Nina is an entrepreneur turned content creator who is an advocate for inclusivity and women empowerment.
A growth story
In recent years, Niv Della has grown considerably, while consistently expanding its footprint across both online and offline channels. The Philippines has emerged as the fastest growing e-commerce industry in the world, Niv Della has been at the forefront of this growth by leveraging the mass digitization of the Philippine economy and the rapid rise of e-commerce. Colourette has established itself as one of the leading grassroots D2C brands, consistently topping local and regional charts in the beauty category across leading e-commerce platforms Shopee and Lazada – one Colourtint at a time.
"We are excited to announce Foxmont's investment in Niv Della. We see high potential in the Philippine D2C beauty segment, and believe Niv Della's Colourette and Fresh Formula are strong brands that will continue to see impressive growth. We have worked on a compelling strategy with Nina and her team that involves new product launches, sales channel expansion, and distribution partnerships through Foxmont's network that will help the company scale rapidly." said Franco Varona, Managing Partner at Foxmont Capital Partner
Expanding product line with innovative and inclusive makeup
Niv Della’s Colourette and Fresh Formula are among the many D2C players that have reported significant growth as consumers’ attention shifted online. D2C brands in the beauty and skincare category have seen increased attention from investors both regionally and globally. In India, beauty D2C brand Plum recently secured $35 million in Series C funding led by A91 Partners earlier this year. NAMA Beauty of Indonesia has also successfully raised $5M in seed funding led by AC Ventures in late 2021. Back in 2019, female-founded clean beauty brand
Drunk Elephant was acquired by beauty giant Shiseido exhibiting the growing interest in D2C beauty on a global scale. In later stage capital, Blackstone Growth announced a majority investment in Supergoop!, the leading protective skincare brand based in the United States last December 2021.
According to Nina Cabrera, Founder & CEO at Niv Della, confidence for grassroots beauty and cosmetics brands is growing rapidly alongside the rising demand for high-quality yet affordable beauty products. Additionally, the Philippines’ beauty and cosmetics industry, young and tech savvy population create a vast opportunity for homegrown beauty brands like Colourette to reach new heights and gain market share.