- Egypt-primarily based trend market The Trend Kingdom (TFK), has raised a $2.6 million Seed funding round, co-led by CVentures and A15, with participation from current investors these kinds of as Paul Antaki and Nasser Chourbagi. New taking part buyers consist of Lotus Funds, Africa-centered investors Raba Partnership, Sunny Side Venture Partners, Basis Ventures and The Cairo Angels Syndicate Fund.
- Established in July 2020 by Fadi Antaki, Marianne Simaika and Karim Abd El Kader, TFK aims to support area vogue business owners and brand name entrepreneurs market on the internet, and give consumers with an very affordable and effortless purchasing practical experience.
- Proceeds will be employed to accelerate TFK’s advancement, develop scalable know-how and expand the crew.
The Style Kingdom (“TFK”), Egypt’s revolutionary curated manner, beauty and house accessories e-commerce market with 360 worth proposition for brands, announces the successful completion of a $2.6 million Seed funding round.
The Seed funding round was co-led by CVentures, Egypt’s first corporate enterprise cash firm and A15, MENA’s major early-phase undertaking capital firm which designed a follow-on investment decision with participation from present buyers and fashion sector veterans Paul Antaki and Nasser Chourbagi. New participating investors include things like Lotus Cash, the sustainability and inclusion enterprise fund, Africa-concentrated traders Raba Partnership, Sunny Facet Enterprise Partners, Foundation Ventures and The Cairo Angels Syndicate Fund.
Proceeds will be utilised to accelerate TFK’s successful growth, construct scalable technological know-how and grow the group. Yet another strategic priority is to reinforce and scale TFK’s 360 value proposition for models which includes providing a one-cease-store resolution covering functions, co-advertising and marketing, omnichannel, and digital written content generation companies that guide regional manner makes in their electronic transformation efforts, improve their on-line profits and assistance them come to be much more sustainable.
The co-Founders Fadi Antaki, Marianne Simaika and Karim Abd El Kader launched TFK in July 2020 with the goal of aiding neighborhood trend business owners and model homeowners market on the internet, serving buyers as a result of an reasonably priced and practical shopping working experience and developing significant professions for youthful and emerging skills.
TFK is now assisting far more than 200 nearby and worldwide primary brand names mature their sales on line through their curated marketplace and 360 benefit proposition. Other than, over 135,000 customers are utilizing TFK for their manner purchasing requires. The company also supports the occupations of feminine expertise as 50% of the company’s administrators and 43% of its workforce are girls.
Fadi Antaki, Founder and Main Govt Officer at The Trend Kingdom reported: “We are delighted to announce The Trend Kingdom’s $2.6 million seed fundraise. The support of new and existing investors is a very pleased instant for the complete staff.
“TFK is a curated market significantly needed by the fast expanding fashion e-commerce planet. Our market place chance is huge, and the drivers underpinning it – are powerful. We have grown by additional than 3.3x in the very last yr, and the on the internet client teams we cater to, are only increasing greater. Our competitive differentiators, as well as access to our investors’ wealth of knowledge and regional experience, positions us completely to develop into the sector leader in Egypt and beyond.”
Egypt’s manner e-commerce place has no very clear sector chief, and TFK is filling the gap. The company’s KPIs are persuasive: get figures have grown 3.3x calendar year-on-year, with this level established to continue in 2022.
TFK’s overall addressable current market is $4.2 billion in Egypt like Manner, private beauty & domestic, and property household furniture e-commerce types according to the most up-to-date investigate by Statista. In 2021, the world-wide manner e-commerce industry worth was nearly $700 billion. By the close of 2022, it is predicted to surpass that determine, and in 2025, it will arrive at all-around $1.2 trillion according to Statista.
Shady Tadross, Director at CVentures, mentioned: “TFK’s electronic launchpad for style, elegance and household accessory manufacturers conforms effectively with Egypt’s rapidly moving e-commerce scene, primarily enabling little and large models to sell on line as the Enterprise would make purchasing uncomplicated and available for a massive and developing target viewers. CVentures is energized at the prospect of functioning intently with TFK, and we glimpse ahead to supporting Fadi, Marianne and Karim accomplish their eyesight and improve into supplemental marketplaces.”