As well as being an e-commerce market, the startup aims to become a one-stop-shop for fashion entrepreneurs, covering operations, co-marketing, omnichannel, and digital content creation services.
The Fashion Kingdom (TFK), an Egyptian e-commerce marketplace for fashion, beauty and home accessories, has raised $2.6 million in a seed funding round led by CVentures, a corporate venture capital firm based in Egypt, and early-stage venture capital firm A15. Other participating investors include Lotus Capital, Raba Partnership, Sunny Side Venture Partners, Foundation Ventures and The Cairo Angels Syndicate Fund.
Founded in July 2020 by Fadi Antaki, Marianne Simaika and Karim Abd El Kader, TFK aims to support local fashion entrepreneurs and allow them to sell their products online, while providing customers with an affordable and convenient shopping experience.
The fashion e-commerce market is booming not only globally, but locally. In 2020, the global fashion e-commerce market was valued at almost $700 billion, and in 2025, it is expected to reach $1.2 trillion, according to Statista. Meanwhile, Egypt’s online fashion market was valued at $125 million in 2019, and is expected to reach $300 million by the end of 2022.
“TFK is a curated marketplace much needed by the rapidly growing fashion e-commerce world,” Antaki tells StartupScene. “Our market opportunity is vast, and the drivers underpinning it are compelling. We have grown by more than 3.3 times 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.”
According to the startup, the total addressable market in Egypt is $4.2 billion including fashion, personal beauty, household, and home furniture e-commerce categories.
Money raised will be used to accelerate TFK’s growth, build scalable technology and hire new talent. The startup also aims to become a one-stop-shop solution for fashion entrepreneurs, covering operations, co-marketing, omnichannel, and digital content creation services.
Sign up for the daily Startup Digest.