If the Dragons on Dragons’ Den are supposed to be terrifying, fire-breathing, monsters then Susie Ma didn’t get the memo.
The founder of Tropic Skincare made her debut as a guest Dragon in the latest episode of the BBC show.
There have been an estimated 19 different Dragons and eight guest Dragons since the show just aired in 2005, and it’s hard to think of one that has been more friendly than 37-year-old Ma.
First, she had to fight back tears in making an offer of £50k to sisters Olivia and Tanyka Olivia for a 10 per cent stake in their startup Cubbi, a discount platform for new and expecting parents.
Then she refused to follow the lead of her fellow Dragons in making the offer conditional to her receiving a bigger slice of equity.
As if to emphasise the point she reacted with incredulity when veteran Dragon Peter Jones offered Richard Peter and Erica Pugh – co-founders of Compo Closet – £100,000 for an eye-watering 20 per cent of their portable composting toilet business.
“20 per cent?” asked Ma in disbelief. “They were offering 3 per cent.”
Even Steven Bartlett mouthed the word ‘wow’ at his fellow Dragon’s demand.
When Compo Closet’s co-founders politely turned down Jones’ offer, Ma left nobody in any doubt about her true feelings. “Good for you,” she told them – twice.
Any her generous nature even extended beyond the entrepreneurs who were pitching for investment.
The last pitch of the night came from brothers Martin and Tomas Rosinski, who were seeking a £200,000 investment for 4 per cent of their AI-powered cat flap business OnlyCat, which is designed to stop cats from bringing home unwanted prey.
Ma asked the co-founders: “I wonder if there’s a wider wildlife benefit. If a cat is denied entry because it has a rodent in its mouth, does it teach the cat to not kill rodents?”
The reaction to her appearance of Dragons’ Den has been almost universally supportive
Breath of fresh air
Natalie Drury might not have remembered Ma’s name but she took to X to write: “This lady was very nice. Should be on more. A breath of fresh air.”
Experienced in-house general counsel and company director Nikki Ellison said she wasn’t surprised by Ma’s behaviour.
“I’ve had the pleasure of meeting Susie at various events, and what always stands out is the time she gives to people,” she posted on LinkedIn.
“She remembers who you are, makes you feel valued, and genuinely takes the time to talk. It’s rare – and refreshing.
“Last night I cheered her on – not just as a businesswoman, but as someone who leads with real warmth.”
As for Ma, she revealed that filming for Dragons’ Den came just four months after she gave birth to her daughter Sienna.
“Filming was up in Manchester, so we were away from home for the week, juggling a tiny baby while staying in an Airbnb,” she said.
“I was still healing, still navigating hormones, still figuring out how to be a Mum – and running on about three hours of broken sleep most nights.
“Then I’d arrive on set trying to look calm and polished… while my body felt anything but.
“There were moments I was desperate for a break – not to grab a snack or run through my notes – but because I needed to breastfeed Sienna.
“Leaking, uncomfortable, counting down the minutes, and still trying to stay sharp in the Den.
“And it really hit me: when a baby arrives, everyone (rightly) asks about the baby. Are they feeding? Sleeping? Settled?
“But so rarely do we ask the parent: Have you eaten today? Have you rested? Are you OK?
Rave reviews: Susie Ma impressed in her appearance as a guest Dragon
“That’s why I chose to invest in Cubbi – because they genuinely see the parents too.
“It’s a free app with discounts and perks across hundreds of brands – for babies and for you – from everyday essentials to those little ‘feel-good’ bits that make life smoother in the thick of it.
“Because in those early months, even one tiny upgrade to your day can make you feel human again.”
More than an investor
Cubbi’s co-founder Tanyka Davson added: “We’re also incredibly lucky to have built such a fantastic relationship with our investor Susie Ma. Her support has gone far beyond the financial investment.”
Away from Dragons’ Den, Tropic Skincare continues to go from strength to strength, hitting a $100m+ revenue and winning more than 450 awards.