Egypt’s The Fashion Kingdom Raises Funds
The Fashion Kingdom, Egypt’s curated fashion, beauty and home accessories ecommerce marketplace with 360 value proposition for brands, announced the successful completion of a $2.6 million seed funding round. Proceeds will be used to accelerate TFK’s efficient growth, build scalable technology and grow the team. Another strategic priority is to strengthen and scale TFK’s 360 […]
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TFK Co-founders – Karim Abd El Kader, Fadi Antaki & Marianne Simaika
The Fashion Kingdom, Egypt’s curated fashion, beauty and home accessories ecommerce marketplace with 360 value proposition for brands, announced the successful completion of a $2.6 million seed funding round.
Proceeds will be used to accelerate TFK’s efficient growth, build scalable technology and grow the team.
Another strategic priority is to strengthen and scale TFK’s 360 value proposition for brands which involves offering a one-stop-shop solution covering operations, co-marketing, omni-channel, and digital content creation services that assist local fashion brands in their digital transformation efforts, grow their online sales and help them become more sustainable.
The seed funding round was co-led by CVentures, Egypt’s first corporate venture capital firm and A15, MENA’s leading early-stage venture capital firm which made a follow-on investment with participation from existing investors and fashion industry veterans Paul Antaki and Nasser Chourbagi.
New participating investors include Lotus Capital, the sustainability and inclusion venture fund, Africa-focused investors Raba Capital, Sunny Side Venture Partners, Foundation Ventures and The Cairo Angels.
Fadi Antaki, Founder and Chief Executive Officer at The Fashion Kingdom, said: “We are delighted to announce The Fashion Kingdom’s $2.6 million seed fund raise. The support of new and existing investors is a proud moment for the entire team.”
“TFK is a curated marketplace much needed by the rapidly growing fashion ecommerce 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. Our competitive differentiators, plus access to our investors’ wealth of knowledge and regional expertise, positions us perfectly to become the market leader in Egypt and beyond.”
Shady Tadross, Director at CVentures, said: “TFK’s digital launchpad for fashion, beauty and home accessory brands conforms well with Egypt’s rapidly moving ecommerce scene, essentially enabling small and large brands to sell online as the Company makes shopping easy and accessible for a large and growing target audience. CVentures is excited at the prospect of working closely with TFK, and we look forward to helping Fadi, Marianne and Karim achieve their vision and grow into additional markets.”
