Believe

Believe Pte Ltd is a Singapore-headquartered consumer packaged goods company that develops and sells halal-certified beauty and personal care products, including skincare, fragrances, make-up and hair care. It operates as a house of brands, with brands cited across sources including Lafz, ZM (Zayn & Myza), The Remedist, Iba and Dr. Rhazes. All products are described as vegan, cruelty-free, halal-compliant and free of harmful chemicals and irritants; the halal positioning includes formulations without alcohol or animal-derived ingredients.

The company was founded in 2019 and launched its first product that year. Its brand portfolio is positioned at different segments: Lafz is described as the flagship premium brand crafted with traditional ingredients, while ZM's vegan, cruelty-free, single-ingredient positioning targets younger, aspirational consumers. Product development draws on a 12-member R&D team, with manufacturing spread across South Korea, Italy, Spain, France, Germany and the UAE. The company's stated aim is to make halal living more accessible to Muslim consumers globally and to build a large global CPG conglomerate.

Founding story

Believe was founded in 2019 in Singapore and launched its first product the same year, under CEO Ankit Mahajan, with early backing from Accel and Jungle Ventures.

Business model

Believe operates a multi-brand consumer products business, developing halal-certified beauty and personal care formulations and selling them through an international omni-channel presence spanning online and offline distribution formats, supported by third-party manufacturing across multiple countries and its own international supply chain.

Revenue comes from sales of branded beauty and personal care products (skincare, fragrances, make-up, hair care) across retail and online channels in multiple markets.

Traction

The company reported 2.5x growth in the year preceding its April 2022 Series C and a team it described as 2,000+ people at that time; a jobs-site profile lists 361 total employees. Products were sold in over eight countries as of 2022. Cumulative disclosed funding reached over $80 million across three rounds by April 2022.

Latest developments

Following its April 2022 Series C, the company stated it would pursue strategic acquisitions in Bangladesh and India and expand in the GCC and Southeast Asia. Its website lists brands and recent product launches alongside a Jeddah, Saudi Arabia office.