Egyptian fashion e-commerce platform The Fashion Kingdom (TFK) has raised a US$2.6 million funding round to accelerate its growth, hire more talent and invest in its technology.
A marketplace offering access to fashion, beauty and home accessories, with a 360 value proposition for brands, TFK was launched in July 2020 by co-founders Fadi Antaki, Marianne Simaika and Karim Abd El Kader.
The startup’s goal is to help local fashion entrepreneurs and brand owners sell online, providing customers with an affordable and convenient shopping experience and creating meaningful careers for young emerging talent. TFK currently helps over 200 top local and international brands grow their online sales through their curated marketplace, while over 135,000 customers use the platform for their fashion shopping needs.
Its US$2.6 million seed round is co-led by CVentures and A15, with the latter making a follow-on investment. It also features existing investors and fashion industry veterans Paul Antaki and Nasser Chourbagi, while new participating investors include Lotus Capital, Raba Capital, Sunny Side Venture Partners, Foundation Ventures and Cairo Angels.
Proceeds will be used to accelerate TFK’s growth, develop scalable technology and grow the team. Another strategic priority is to strengthen and expand TFK’s 360 value proposition for brands, which is to offer a one-stop solution covering operations, co-marketing, omnichannel and content creation services. that help local fashion brands in their digital transformation. efforts, increase their online sales and help them become more sustainable.
“TFK is a curated marketplace that the rapidly growing fashion e-commerce world badly needs. Our market opportunity is vast and the drivers behind it are compelling. We’ve grown more than 3.3 times over the past year, and the online customer groups we cater to are only growing. Our competitive differentiators, along with access to our investors’ wealth of knowledge and regional expertise, positions us perfectly to become the market leader in Egypt and beyond,” said Fadi Antaki, Founder and CEO of TFK.
Shady Tadross, Director of CVentures, said TFK’s digital launch pad for fashion, beauty and home accessories brands fits well with Egypt’s fast-evolving e-commerce scene, enabling small and major brands to sell online and making purchases easy and accessible for a large and growing target group. spectators.
“CVentures is excited to work closely with TFK, and we look forward to helping Fadi, Marianne and Karim realize their vision and expand into other markets,” he said.