Ecommerce platform The Fashion Kingdom raises $2.6M in funding round
Egyptian fashion E-commerce platform, The Fashion Kingdom (TFK), announced that it has secured $2.6 million in a recent seed funding round.
The seed round was co-led by CVentures and A15 with participation from existing investors and new participating investor Lotus Capital, Raba Capital, Sunny Side Venture Partners, Foundation Ventures and The Cairo Angels Syndicate Fund.
TFK will direct the new funds towards accelerating their growth, strengthen its team, develop scalable technology, and expand the company’s 360 value proposition for brands which includes offering a one-stop-shop solution covering operations, co-marketing, omni-channel, and digital content creation services to support local brands.
“TFK is a curated marketplace much needed by the rapidly growing fashion e-commerce world. Our market opportunity is vast, and the drivers underpinning it – compelling. We have grown by more than 3.3x in the last year, and the online customer groups we cater to, are only growing larger,” said Fadi Antaki, Founder and Chief Executive Officer at The Fashion Kingdom.
The platform has garnered more than 200 local and international brands, serving more than 135,000 customers, according to TFK. Women occupy 50% of the company’s management positions and constitute 43% of its workforce, it added.
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