Egypt-based e-commerce marketplace for fashion, beauty, and home accessories The Fashion Kingdom raised USD 2.6 million in seed funding. The round took place on July 26, 2022. Egypt’s first corporate venture capital firm, CVentures and an early-stage VC in the MENA region, A15, co-led the financing for the firm. Existing investors and fashion industry veterans such as Paul Antaki and Nasser Chourbagi participated in the round. Lotus Capital, Raba Capital, Sunny Side Venture Partners, Foundation Ventures and The Cairo Angels also joined in the investment.
Purpose of Investment for The Fashion Kingdom
With the latest capital infusion, the company seeks to accelerate its growth. The Fashion Kingdom intends to build scalable technology and ramp up hiring operations. The e-commerce platform aims to grow the team.
The platform intends to deploy some funds towards strengthening and scaling TFK’s value proposition for brands.
What the founder has to say
Fadi Antaki, Founder and Chief Executive Officer at The Fashion Kingdom, said, “We are delighted to announce The Fashion Kingdom’s USD 2.6 million seed fundraise. 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 e-commerce world. Our market opportunity is vast, and the drivers underpinning it – are 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.”
What the investor has to add
Shady Tadross, Director at CVentures, said, “TFK’s digital launchpad for fashion, beauty and home accessory brands conforms well with Egypt’s rapidly moving e-commerce 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.”
About the company
Fadi Antaki, Marianne Simaika and Karim Abd El Kader launched The Fashion Kingdom (TFK) in July 2020. The company helps local fashion entrepreneurs and brand owners sell online. Besides, it serves customers an affordable and convenient shopping experience and further creates meaningful careers for young and emerging talents. More than 135,000 customers use TFK to cater to their fashion shopping needs.
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