Cairo: La Reina, the online fashion rental service, has announced that the company has raised an undisclosed six-figure investment from 500 Startups, Algebra Ventures, and some angel investors in its Seed round.
The newly raised funds have been deployed to expand its team and launch its newest fashion subscription service, The Box.
This new innovative product is available on the La Reina app and website. It is the first-of-its-kind in the Middle East delivering unprecedented fashion services to women in the corporate industry and aims at encouraging fashion sustainability
Commenting on the announcement, Eltanawy, CEO and Co-Founder said, “We are proud to have such prominent investors backing us. They have supported some of the most disruptive companies in the region and are confident that La Reina has great potential as it forges along enhancing its offerings to become pioneers in the rental fashion space.”
“We created The Box to offer practical shopping solutions for women who lead busy lives but are also keen on looking their absolute best every single day. We want our members to become versatile in how they dress up while also encouraging them to create a very minimal wardrobe. Such an approach stresses on the importance of fashion sustainability, The Box helps to decrease the fashion footprint by 85% with each subscriber making it a game-changer that shapes the future of fashion and how we consume it.”