The premium online marketplace Immaculate Vegan Ltd has completed its first round of investment, securing £ 400,000 to help drive future growth.
Launched in 2019, Immaculate Vegan only sells 100% vegan fashion, beauty and lifestyle products from over 100 brands including Gunas New York, Collection And Co, Nina Rein, Taiyo and Gentleberg.
Its main target markets are the United Kingdom, the United States and Europe.
Immaculate Vegan founding director Annick Ireland said she was “thrilled” with the completion of the funding round and said it would help the company take “the next step”.
“We are already seeing huge growth in consumer demand for ethical and sustainable alternatives that are still beautifully designed, high quality and stylish, and Immaculate Vegan meets this need perfectly,” Ireland said in a statement.
To date, Immaculate Vegan has tripled its revenue year over year, with the second quarter of 2021 being its strongest quarter to date.
The company said the funding round would be used to grow the platform and launch large-scale digital marketing campaigns to drive new customer acquisition.
Rohallah Ghasemi, director of investments at SFC Capital, said there was a void in the market for “a trusted market with select products” like Immaculate Vegan.
“Brands and manufacturers are quickly replacing their product line with more sustainable alternatives, especially in beauty and fashion products,” Ghasemi said. “This is an opportunity Immaculate Vegan has seized and we are thrilled to support their great team to help them continue to grow. “