Expanding pre-Series A funding surpasses $1 million for Dabchy, a Tunisian platform in the second-hand fashion sector, aiming for expansion.
Dabchy, a peer-to-peer marketplace for second-hand fashion based in Tunisia, has recently completed a pre-Series A funding round. The lead investor in this round was Janngo Capital, with participation from angel investors including Karim, InstaDeep's founder, as well as US-based Renew Capital and Village Capital.
The exact amount raised was undisclosed but described as a "seven-figure" round, indicating a multi-million dollar investment. This funding will be used to support Dabchy’s expansion into Egypt, broaden the range of product offerings on its platform, and improve the platform’s technology and user experience to better serve its marketplace.
Fatoumata Bâ, Founder and Executive Chair of Janngo Capital, commented that Dabchy is a pioneer in driving the sustainable transformation of the apparel industry. Ameni Mansouri, CEO and co-founder of Dabchy, stated that the funding will help accelerate growth, improve user experience, and strengthen the platform's presence in North Africa and the Middle East.
Dabchy currently serves more than 10% of Tunisia's population and has grown to over 1.3 million users across Tunisia and Egypt. The platform has recently expanded its offerings to include new categories like men's fashion, home goods, sports equipment, books, and games.
With this strategic funding, Dabchy aims to capitalize on its market leadership and growth potential in the e-commerce resale fashion sector. The startup plans to use the funds to expand across the Middle East & North Africa by 2026, with a focus on the Egyptian market. This funding round marks a significant step forward for Dabchy as it continues to drive the sustainable transformation of the apparel industry.
| Aspect | Details | |--------------------------|----------------------------------------------------------| | Lead Investor | Janngo Capital | | Other Participants | Angel investors including Karim, Renew Capital, Village Capital | | Amount Raised | Undisclosed, described as a multi-million "seven-figure" round | | Use of Funds | Expansion into Egypt, diversification of products, platform improvement | | Business Focus | Peer-to-peer marketplace for second-hand fashion in Tunisia and broader MENA region |
This funding round, led by Janngo Capital, indicates a strategic investment in technology to support Dabchy's expansion, aiming to improve the lifestyle of users by broadening product offerings and enhancing the platform's user experience. With the inclusion of Renew Capital and Village Capital, finance will be utilized to strengthen Dabchy's presence in the Middle East & North Africa, particularly Egypt, fostering growth in the realm of sustainable fashion and technology.
