The funding round was led by MoreBranches, a venture capital firm that focuses on investing in companies that are making a positive social impact.
The Folklore was founded in 2017 by Amira Rasool with the mission of promoting and preserving African fashion and culture. The platform connects African fashion designers with retailers around the world, providing them with the resources and support they need to succeed in the global marketplace.
With the new funding, The Folklore plans to expand its reach and impact, bringing more African designers into the spotlight and helping them access new markets. The company also aims to create more opportunities for marginalized communities, both in Africa and beyond, by providing them with economic empowerment through the fashion industry.
„We are thrilled to partner with MoreBranches to bring The Folklore to the next level,“ said Amira Rasool, founder and CEO of The Folklore. „With this funding, we will be able to reach more designers, retailers, and consumers, and continue to make a positive impact on the African fashion industry and beyond.“
The Folklore has already worked with over 50 African designers and has partnerships with major retailers such as Nordstrom and Saks Fifth Avenue. With the support of MoreBranches and its seed funding, the company is poised to further its mission of empowering African fashion designers and marginalized communities through the power of fashion.