The Fashion Kingdom (TFK), an Egyptian curated fashion e-commerce site, has received a seed round of US $2.6 million to fuel its expansion, bring on more talent, and improve its technology.
Co-founders Fadi Antaki, Marianne Simaika, and Karim Abd El Kader introduced TFK in July 2020, a marketplace that provides access to items for the home, clothing, and beauty products, with a 360-degree value proposition for manufacturers.
The startup’s mission is to assist local fashion business owners in selling their products online while providing clients with a cost-effective and pleasant shopping experience. It also seeks to develop young and developing talent by offering them fulfilling opportunities. Over 135,000 users use the TFK platform for their fashion purchasing requirements, and the company is presently assisting more than 200 local and worldwide top brands in growing their online sales through their curated marketplace.
CVentures and A15, the latter of which is making a follow-on investment, jointly led its US$2.6 million seed round. Paul Antaki and Nasser Chourbagi, seasoned investors in the fashion business, are also included, as are new investors Lotus Capital, Raba Capital, Sunny Side Venture Partners, Foundation Ventures, and Cairo Angels.
The money raised will be put to use expanding the team, developing scalable technologies, and speeding up TFK’s growth. Strengthening and expanding TFK’s 360 value proposition for brands, entails providing a one-stop-shop solution covering operations, co-marketing, omnichannel, and digital content creation services to support local fashion brands in their efforts to go digital, increase their online sales, and make them more sustainable, is another strategic priority.
“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,” said Fadi Antaki, founder and CEO at TFK.
According to Shady Tadross, director at CVentures, TFK’s digital launchpad for fashion, beauty, and home accessory brands conforms well with Egypt’s rapidly evolving e-commerce scene, enabling small and large brands to sell online and making shopping simple and accessible for a sizable and expanding 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,” he said.
