Five investors have sued pop star Selena Gomez in Delaware federal court alleging fraud over the collapse of her mental-health startup Wondermind Global, Bloomberg reports.

The lawsuit alleges the company misled backers about its commercial prospects and falsely claimed partnerships with JPMorgan Chase & Co. and Fidelity after seeking funds at a $US95 million valuation in 2022.

The plaintiffs, who invested $US1.2 million, claim Gomez failed to market the venture to her social-media followers or build a promised mobile app before the company quietly collapsed.

Gomez, co-founders Mandy Teefey and Daniella Pierson, and Wondermind did not immediately respond to emails seeking comment, Sabrina Willmer reports for SMH business (AU).