The Folklore, a B2B marketplace facilitating international market access for fashion brands from emerging markets like Africa, Asia, and The Caribbean, has raised $3.4 million in a seed funding round. This funding was led by Benchstrength, a VC firm by ex-General Catalyst partners Kenneth Chenault Jr. and John Monagle, with participation from existing investors Slauson & Co., Techstars, and Black Tech Nation Ventures. The investment brings the startup’s total funding to $6.2 million.
Empowering Emerging Fashion Brands
Founded in 2018 by Amira Rasool, The Folklore serves as an e-commerce platform designed to empower African fashion designers by providing them with increased economic opportunities. Recently, the company introduced The Folklore Capital, in collaboration with its partners, offering brands access to loans of up to $1 million for working capital. Additionally, it operates a labor marketplace for brands seeking occasional talent, facilitating connections between brands and vetted talent or manufacturers.
Source: WeeTracker