Egypt: start-up La Reina mobilizes $ 1 million from two venture capital funds
Algebra Ventures, one of the largest venture capital funds in Egypt and 500 Startups, a global venture capital fund based in Silicon Valley in the United States, raised $ 1 million for the start-up up Egyptian La Reina.
The platform, which rents and sells online evening and wedding dresses, will use its funds to increase its fashion items to 5,000 pieces by 2019.
Beside that, the start-up founded in 2016 by Ghada El-Tanawy and Amr Diab (photo), also thinks to strengthen his work team.
“We plan to increase our dress items on the one hand and on the other hand we will strengthen our team by finding talented people to work with,” said Amr Diab, co-founder of La Reina.