Cult Mia Secures Over €4.6m in Seed Funding for Global Expansion
LBS alumna, Nina Briance, aims to focus Cult Mia's presence in high-growth markets
Cult Mia, the company established and run by London Business School alumna Nina Briance (MBA, Entrepreneurship and Luxury Strategy, 2019) has successfully completed an extension of its seed funding round, raising more than €4.6 million.
The capital will facilitate the company’s ambitions for global expansion and solidify its status as a premier destination for independent luxury fashion. Founded in 2019 by Nina Briance, Cult Mia has experienced remarkable growth, achieving triple-digit increases in sales since its inception.
The latest funding follows a remarkable summer for Cult Mia, with third-quarter sales surging by over 200% compared to the same period in 2023. Notably, the company has been operating at three times the efficiency of its marketplace peers, highlighting its effective business model. By integrating style-led brand and product curation with data-driven insights, Cult Mia has created an ecosystem that not only benefits customers but also supports its brand partners.
This funding round has attracted significant investment from a range of prominent investors, including H&M Group Ventures, Morgan Stanley, Fuel Ventures, and David Wertheimer. The fresh capital injection will enable Cult Mia to scale its operations, particularly in burgeoning markets such as the United States and the Middle East.
Nina Briance, the Founder and CEO of Cult Mia, expressed her enthusiasm about the new investment. “The rapid growth we’ve seen, coupled with the loyalty from both customers and brand partners, reinforces our belief in the platform’s potential to become the independent luxury fashion destination for the world,” she said. Briance emphasized that the funds would be pivotal in accelerating the company’s global footprint, particularly in high-growth markets.
