Online premium marketplace Immaculate Vegan Ltd has completed its first investment round, securing 400,000 pounds to help it drive future growth.
Launched in 2019, Immaculate Vegan sells only 100 percent vegan fashion, beauty and lifestyle products from over 100 brands including Gunas New York, Collection And Co, Nina Rein, Taiyo and Gentleberg.
Its key target markets are the UK, US and Europe.
Immaculate Vegan’s founding director Annick Ireland said she was “delighted” with the completion of the funding round and said it would help take the business to “the next stage”.
“We’re already seeing huge growth in consumer demand for ethical and sustainable alternatives that are still beautifully designed, high quality and stylish, and Immaculate Vegan perfectly fulfils that need,” Ireland said in a statement.
To date, Immaculate Vegan has trebled turnover year on year, with Q2 of 2021 its strongest quarter yet.
The company said the funding round will be used to develop the platform and launch large scale digital marketing campaigns to drive new customer acquisition.
Rohallah Ghasemi, investment executive at SFC Capital, said there was a gap in the market for “a trusted marketplace with curated products” like Immaculate Vegan.
“Brands and manufacturers are fast replacing their product range with more sustainable alternatives, especially in beauty products and fashion,” Ghasemi said. “This is an opportunity that Immaculate Vegan has seized and we are pleased to be backing their great team to help continue their growth.”