It's the second round of investment for lifestyle platform Nalbes in only 8 months since its founding.
In less than a year since its founding, Kuwaiti fashion marketplace Nalbes has just nabbed a gargantuan $1.5 million investment in a Series A round, from undisclosed investors. The young startup - which only launched in January 2017 - thus reached its second funding round in a speed-lightning fast pace, having secured a seed round of $200,000 from private investors earlier this year.
Founded by Abdulaziz Alanzi and Bader Alanzi, the startup offers a lifestyle and fashion marketplace for local designers to sell their products, as well as an e-commerce outlet for international brands, from clothes and shoes to stationery and home deco items.
“Being able to raise second round within first year shows how confident we are about the business and the kind of potential it has for growth in coming years,” Bader Alanzi, Co-Founder and VP Communications of Nalbes said in an interview with Mena Bytes. Setting off to lead the GCC region - with operations across multiple countries - the startup now aims to scale their business, in a moment where E-commerce is booming in the region, marked by Amazon’s entry into the market with the acquisition of Souq.com earlier in March.
Main photo: Courtesy of Nalbes.
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