Niv Della Beauty Innovations, the Filipino beauty and skincare company behind the D2C brands Colourette and Fresh Formula, has closed a US$2 million funding round.
Singapore-based DSG Consumer Partners led the round, with participation from existing investor Foxmont Capital Partners.
Also Read: Foxmont backs Filipino D2C cosmetics startup Niv Della’s seed round
The funds will be used to hire key talent to propel Niv Della’s strategic initiatives forward. Product development efforts will also be amplified, along with the launch of more campaigns, including beauty events, social media campaigns, and collaborations.
Founded in 2015 by entrepreneur-turned-content creator Nina Dizon-Cabrera, Niv Della provides makeup products suited for the Filipino lifestyle, skin tones, and the country’s hot and humid climate. Its shade ranges and diverse marketing campaigns highlight its commitment to inclusivity.
The startup has launched a product line with 7-Eleven nationwide and is available in 80 physical stores in leading department stores around the country.
“Colourette and Fresh Formula celebrate the modern Filipino with each brand’s unique DNA,” said newly appointed COO Stephanie Tanjuatco.
“The company grew rapidly by recognising untapped needs in the Philippine market, and I definitely believe the company can achieve exponential growth; this fundraise will help us achieve it by amplifying our voice to reach more consumers,” added Tanjuatco, who joined the company at the end of 2023.
Also Read: How technology can influence the beauty and cosmetics industry
In 2022, Niv Della raised an undisclosed sum in seed capital from Foxmont Capital Partners.
The Philippines has emerged as the fastest-growing e-commerce industry in the world. The beauty and cosmetics industry’s young and tech-savvy population create a vast opportunity for homegrown beauty brands like Colourette to reach new heights and gain market share.
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Image Credit: Niv Della.
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