The Fashion Kingdom (TFK), an Egyptian fashion e-commerce marketplace, has completed a $2.6 million seed funding round co-led by CVentures and A15. Also participating in the round are existing investors and fashion industry veterans Paul Antaki and Nasser Chourbagi.
Others included Lotus Capital, Raba Capital, Sunny Side Venture Partners, Foundation Ventures, and The Cairo Angels. The funding will be used to accelerate The Fashion Kingdom’s growth strategy, build scalable technology and boost the team.
Another strategic priority is to strengthen and scale The Fashion Kingdom’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.
Founded in 2020, The Fashion Kingdom is an e-commerce fashion platform that gives value for money, experience, and the best sustainable brands to customers.
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 – 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.”
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.”
