The Folklore, a platform known for connecting global consumers with African brands and diasporic fashion, has secured a substantial $3.4 million seed funding.
This round was spearheaded by Benchstrength Ventures, with contributions from Techstars, Black Tech Nation Ventures, and Slauson and Co.
Connecting brands with Major Retailers
In 2022, Folklore underwent a transformation. Originally a shopping platform showcasing primarly African brands, it now aims to enhance how emerging brands integrate into the retail landscape.
“[Brands] would come to me for advice on how to expand their footprint, how to get a loan or how to recruit talent on this side of the world,” Founder and CEO Amira Rasool explained, per Business of Fashion.
“As a small company, we can’t do two big things and be successful. So, we decided to focus on the B2B route so that we can make a larger impact on our brands.”
An all-in-one platform for brands
Building on its existing all-in-one wholesale management software and technology marketplace, The Folklore is set to further assist brands in connecting with retailers like Nordstrom and Saks Fifth Avenue.
Launching a new talent recruiting platform and financial tools, including purchase order financing and credit lines, will provide emerging brands with resources.
A newly envisioned resource center will also offer entrepreneurs invaluable support, facilitating smoother entry into competitive markets.
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