The Fashion Kingdom wraps $2.6 million seed funding round
The Fashion Kingdom (TFK), an Egypt-based curated fashion, beauty and home accessories e-commerce marketplace, has completed a $2.6 million seed funding round.
This was co-led by CVentures and A15, with participation from existing investors and fashion industry veterans Paul Antaki and Nasser Chourbagi.
New participants included Lotus Capital, Raba Capital, Sunny Side Venture Partners, Foundation Ventures and The Cairo Angels.
Proceeds will be used to accelerate TFK’s growth strategy, build scalable technology and boost the team.
Another strategic priority is to strengthen and scale TFK’s proposition which involves offering a one stop shop solution covering operations, co-marketing, omnichannel, 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.
Fadi Antaki, Founder and Chief Executive Officer at TFK, says: “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 - 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, says: “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.”
“We’re excited at the prospect of working closely with TFK, and we look forward to helping them achieve their vision and grow into additional markets.”