Goldman Sachs invested $35m in the Grace Beauty-backed eco-friendly footwear brand that will be used to expand its retail presence in the US.

Rothy’s, a US-based women’s footwear brand backed by consumer products distributor Grace Beauty, has raised $35m from investment banking firm Goldman Sachs’ Investment Partners unit.

Founded in 2016, Rothy’s designs and distributes stylish shoes for women that utilise eco-friendly and vegan-friendly silhouettes made from recyclable materials such as plastic water bottles.

The company claims to have sold more than 1 million pairs of shoes so far this year, generating more than $140m in revenue in the process. It initially sold…