Premium fashion shopping app, Her Black Book, has bagged $1.6 million in an oversubscribed round led by Andrew Hagger, the CEO of Australia’s largest private investment group Tattarang.
The equity round, joined by Afterpay-backed Touch Venture, raised Her Black Book’s value by 50 per cent compared to its pre-launch capital raise.
The three-month-old app was founded by Sali Sasi and Julie Stevanja, who is also the founder of activewear giant Stylerunner. The fashion platform taps into the high-end segment through brand partners, allowing shoppers to discover new items, deals and promos via discounts and Cashback features.
“We know first-hand how hard capital raises can be, so it’s refreshing to have such strong support so early, we had to be disciplined in saying ‘no’ to more capital at this stage,” said Sasi. “It’s an exciting prospect for our business, but also another run on the board for female lead businesses, who are still so under-represented when it comes to funding, particularly at VC and PE level.”
Her Black Book has partnered with more than 500 brands and retailers, including Zimmermann, The Iconic, Sephora, Calvin Klein, Nike, Lululemon, Estee Lauder, Adore Beauty and Clinique.
“It’s an exciting, innovative space they are creating,” said Hein Vogel, CEO of Touch Ventures. “Their attitude, grit and deep understanding of the target market makes this business highly scalable and a company to watch.”
Her Black Book also features a digital magazine, which offers styling tips across fashion, beauty, lifestyle, business.