Skincare startup Faace has secured backing from three dragon investors following an appearance on Dragons’ Den last week.
Founder Jasmine Wicks-Stephens walked away with a combined £60k investment from Steven Bartlett, Peter Jones and Touker Suleyman.
The dragons offered the entrepreneur £20k each in return for a 5% stake in the business, valuing Faace at £400k.
“I applied for the den knowing what a great platform it would give to my female-founded, independent brand,” Wicks-Stephens said.
“Female entrepreneurs are typically less likely than men to get investment for their ventures, but I was intrigued to see if that stacked up in the den, where it’s a slightly more predominant male zone too. I secretly wanted Deborah Meaden to invest but was thrilled to have the support of all three male dragons.
“Steven Bartlett, who has built such an impressive following, and Peter Jones and Touker Suleyman, who are so established in business, are a dream team.”
Wicks-Stephens launched Faace in 2020 with a mission to create a range of ethical products to help women during periods and the menopause.
The hormone-based moisturisers, cleaners, face creams and face masks are stocked in a variety of retailers in the UK and overseas, including Harrods and Selfridges.
Wicks-Stephens said during her Dragons’ Den pitch that revenues were expected to jump from around £70k to £250k this year, with the business set to launch on TV shopping channel QVC as well as going into Urban Outfitters stores nationwide.
To date, Faace has raised more than £450k from angel investors, a beauty accelerator and a crowdfunding round last year.
“It remains to be seen what happens next for Faace, but I’m certainly excited to have the backing of dragons,” Wicks-Stephens added.
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