The Folklore, a fashion e-commerce startup, headquartered in New York City, U.S.A has secured $1.7 million pre-seed funding. The funding was led by Slauson & Co alongside participation from Fearless Fund, WNBA star Nneka Ogwumike, Backbone Angels, Fab Co-Creation Studio Ventures, Untapped Capital, True Capital Management Culture Fund, and a number of family offices and angel investors.
Since 2018, The Folklore mission has been rooted in empowering African and diasporic brands, and connecting them with global customers. In this next phase of our company, the fashion marketplace will utilize the use of technology to provide the industry’s next frontier of brands with access to opportunities that encourage scalability and fuels them to compete globally.
The Fashion Group is excited to introduce its new trio of technology platforms, The Folklore Connect, The Folklore Marketplace and The Folklore Edit. Together, all three products further elevate the vision to see African and diasporic brands in the hands of customers around the world.
Launching The Folklore Connect will serve as the premier wholesale e-commerce platform empowering retailers to discover and shop African and diasporic designer brands online. The purpose is to help retailers and the next generation of brands work together to provide global customers with products they love.
The original consumer shopping platform has been converted to The Folklore Marketplace, a shopping aggregator that provides global customers with one central location to discover products from African and Diasporic designer brands sold across multiple e-commerce sites. The Folklore Edit, the new iteration of our editorial blog, will serve as an online media platform that provides in-depth industry analysis, interviews and news about the African and Diasporic design industry.
“We are extremely grateful to all of our investors who contributed to our $1.7 million pre-seed funding round and who have aided in The Group’s evolution. We closed this round, which was led by Slauson & Co. with 72% Black investors, 82% POC investors, and 64% women investors.” says Amira Rasool, Founder and CEO at The Folklore
“I would like to thank all you for your continued support and encouragement. We look forward to bringing you along on this journey as we continue to build Africa’s leading designer fashion and lifestyle conglomerate.” Amira added.