Retail and consumer sector investor True has led an investment of over £1m into makeup brand War Paint.
Jane Imrie

Men’s makeup brand eyes expansion after securing over £1m investment

A London firm specialising in cosmetics for men has secured over £1m of investment to expand its proposition.

Retail and consumer sector investor True has led an investment of over £1m into makeup brand War Paint, with participation from Redrice Ventures and other angel investors.

Founded by Danny Gray in 2018 and born out of his own experience of wearing his sister’s makeup after being bullied for his acne as a teenager, War Paint has gone on to sell over 50,000 units worldwide.

War Paint founder Danny Gray and CEO Matt Lumb commented “We’re both absolutely delighted to have partnered with such an established and reputable investment firm as True.

“Along with the investment itself we believe their wealth of experience and their broad network will catapult War Paint to the next level as we strive to be the global leader in the men’s makeup space.

“The fact we were able to finalise the investment during a global pandemic illustrates just how much belief everyone has in our amazing brand.”

Claire Cherry, Investment Principal at True, added: “At True, our seed fund looks to invest in disruptive businesses that are at the forefront of the consumer behavioural shift… we are delighted to be partnering with War Paint for their next stage of rapid growth.

“The business is ideally positioned to drive growth in the men’s make-up market due to its customer centric and relatable brand positioning, digital-first business model and high quality product range.”

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