The newly-formed group Zulu Beauty will use the funding to expand its operations across Europe, and will continue to invest in customer service as well as new brands that are looking for an online partner.

Established by Zu Rafalat in 2008, Zuneta has positioned itself at the luxury end of the cosmetics market, selling high end and emerging brands.

LoveLula stocks more than 2,000 organic and natural beauty products and was started in 2006 by former City worker Claire Braithwaite.

Paul Fisher, an investor with Forward Venture Partners, says, ‘We believe the future of ecommerce is about emotional attachment with customers, created by offering content, customer dialogue and retail all under one brand.’

He continues, ‘We believe Claire and Zu are unmatched in Europe for their knowledge of both beauty and online retail, and their dedication to creating a new kind of shopping experience for beauty consumers.’

The firm’s investment in the merged businesses remains undisclosed.

Fisher, who joins Braithwaite and Rafalat on the board of Zulu Beauty, is responsible for acquiring new businesses and investing in new projects via Forward Venture Partners.

He is also an investor in furniture and homewares retailer WorldStores and Mint Digital, a website design business.