Saudi Arabia-based online fashion and lifestyle startup Nejree has announced that it raised fresh funding in a Series A round led by Impact 46. At close, the net yield from the round stood at a sizable $15 million.
The company has also stated that it will utilize the new capital to scale operations and further enhance its flagship offering, Nejree Closet, to include more brands and categories. Additionally, Nejree also plans on expanding to new markets.
Launched in 2018, Nejree began its journey with the aim to deliver a unique, never-tried-before shopping experience to users. And its efforts to do so gained widespread traction in the online shopping industry after the company introduced Nejree Closet. Simply put, Nejree Closet allows online shoppers the freedom to go for the try-now-buy-later model.
What this basically means is that consumers can try out the products they order before finalizing the purchase. And that too without any sort of upfront payment. This essentially bridges the gap that otherwise prevented many shoppers from buying online. With Nejree Closet, they can now assess size-fitness, quality, look, and feel of a product right from the comfort of their home before purchasing it.
“Each day at Nejree, embracing our vision, we strive to enhance & innovate, by delivering the most convenient, reliable and unique experience, using big data, AI and innovative tech solutions,” Ibrahim Al Mogren, founder & CEO of the startup said in a statement.
Meanwhile, explaining the decision to invest in Nerjee, Impact 46’s Abdulrahman Almodaimeegh noted, “Nejree is tackling a great opportunity in the e-commerce space. […]With the right framework, innovative technology, and the team behind Nejree, the platform is set to play a driving role in growing the market.”
