Tech in Africa
Cairo online fashion rental platform La Reina completed a 6-figure seed investment from 500 startup companies. A good number of these companies are angel investors. An exact figure on the round is yet to be disclosed. La Reina raised $1 million in funding from Algebra Ventures back in 2018. The seed funding was from Algebra Ventures, 500 Startups, and other investors.
The new funds will expand its team and launch its new fashion subscription service ‘The Box’ targeting women. This is the first of its kind fashion subscription service available on L Reina’s website and mobile app. The company will expand its fashion services to Middle Eastern women in the corporate industry.
La Reina was founded in 2016 by Ghada Eltanawy and Amr Diab. The Box was an innovative idea conceptualized by Ghada that gives users day to day clothing on their favorite brands delivered to their addresses at a fee. You can choose our preferred designs on the app or opt for the pre-styled selections.
The Box works hand in hand with leading fashion brands like Zara, Dutti, Massimo, Stradivarius, Mango, and several others.
Sections of the statements shared by the parties concerned on Laffaz are shared below, La Reina co-founder and CEO Ghada Eltanawy says, “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” she adds.
Recently Ghada earned recognition by Vogue as one of the Top 10 Successful Female Tech Entrepreneurs in the Middle East.
