London-based online fashion marketplace Cult Mia has secured £4.5 million in seed funding. The latest funding round was led by Fuel Ventures, one of the UK’s leading venture capital firms, alongside H&M Group Ventures and other prominent investors. Their support reflects growing confidence in Cult Mia’s ability to disrupt traditional luxury fashion by empowering independent designers and redefining the online retail experience.
The capital infusion will help the company scale operations, enhance technology, and expand in its core markets – the US and the Middle East. Additionally, the company remains committed to driving sustainability and ESG improvements across its brand partnerships.
By early 2026, the company plans to launch its Series A funding round, setting the stage for its next phase of expansion.
Strong performance and growth trajectory
This investment follows a year of exceptional growth, with net revenue rising by 191% and the company exceeding its annual forecasts by 4%. Cult Mia’s impressive growth in 2024 was fueled by a 2.5x increase in customer base (146% YoY growth), a 9% rise in average order value (AOV) to £564, surpassing Farfetch and Net-a-Porte, and a significant reduction in return rate to 15%, a rare feat in luxury fashion.
The company’s success in high-value international markets further solidified its position. The Middle East emerged as Cult Mia’s fastest-growing region, with 4.4x YoY growth in gross merchandise value (GMV), while the US grew 2.1x in the same period.
Expanding the exclusive designer portfolio
One of Cult Mia’s biggest strengths is its carefully curated selection of independent designers. With over 250 designers applying each month and only 10% being accepted, the platform maintains its exclusivity and high-quality standards.
Currently, the company boasts 400+ brands from 46 countries, 39% of products available exclusively on Cult Mia, and a whopping 98% brand retention rate.
By continuing to curate top-tier emerging talent, Cult Mia aims to further strengthen its appeal to fashion-forward consumers seeking unique, high-quality pieces.
Sustainable and ethical fashion at the core
Unlike many luxury platforms, Cult Mia, founded by female entrepreneur Nina Braince in 2019, actively champions sustainability by incentivising its designers to improve ethical and ESG practices. The marketplace offers a more conscious alternative to fast luxury, catering to a growing segment of consumers who prioritise transparency, craftsmanship, and responsible production.
Cult Mia’s success is a testament to its innovative approach to luxury retail, blending curation, exclusivity, and sustainability. By redefining how independent designers connect with global shoppers, the company is not just disrupting the fashion industry—it’s shaping its future.
Nina Briance, founder and CEO of Cult Mia, said: “2025 is shaping up to be a transformative year for Cult Mia as we continue to challenge industry norms and redefine the luxury fashion experience. With the incredible support from our investors and the momentum we’ve built over the last year, we’re focused on scaling our platform, empowering emerging designers, and setting a new standard for ethics and inclusivity in fashion. We’re excited to build on our success in markets like the US and Middle East, and take bold steps towards our vision of making Cult Mia the go-to destination for curated, values-driven luxury.”
Mark Pearson, Founder of Fuel Ventures, said: “Cult Mia is a shining example of how innovation and purpose-driven entrepreneurship can redefine industries. As we look to 2025, the convergence of technology and retail is set to create waves, and Cult Mia is perfectly positioned to lead this charge. We’re excited to support Nina and her team as they continue to make bold moves and set new standards for the fashion-tech space.”
