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Australian Luxury Fashion App Her Black Book Closes $1.16 Million Funding Round

The new funding round pushes Her Black Book's  valuation to $7.5 million three months after its launch.
The new funding round pushes Her Black Book's valuation to $7.5 million three months after its launch. (Her Black Book)
By
  • Khanh Linh

The investment round was led by Andrew Hagger, the high-profile chief executive of Australian investment group Tattarang, which also owns RM Williams. Other investors in the oversubscribed funding round include Afterpay-backed Touch Ventures and several unnamed fintech entrepreneurs.

Following this capital injection, the company’s valuation has increased 50 percent over its prelaunch estimate to AU $7.5 million ($5.5 million).

Her Black Book was founded by twin sisters Sali Sasi and Julie Stevanja (the pair also founded premium activewear e-commerce platform Stylerunner) and launched just three months ago. The ‘freemium’ app platform allows shoppers to browse a curated collection of apparel, homewares, beauty and wellness products and travel packages drawn from more than 500 brands, offering deals, promotional discounts and cash back features. A paid subscription option offers additional features.

Brand partners include Zimmermann, Alice McCall, Camilla & Marc, Net-A-Porter, The Iconic, Sephora, Bec & Bridge, Ksubi, Asos, Calvin Klein, Stylerunner, Nike, Estée Lauder, Clinique, Etihad and Australian holiday resort Hamilton Island.

The app also has its own digital magazine featuring fashion, beauty, lifestyle and business content, linking back to the shopping site.

Touch Ventures chief executive Hein Vogel described Her Black Book as “an exciting, innovative space,” adding that Sasi and Stevanja’s “attitude, grit and deep understanding of the target market makes this business highly scalable and a company to watch”.

“We have an exciting roadmap ahead of us, and surrounding ourselves with great talent and backers has been a rewarding and validating step,” Stevanja said.

Learn more:

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