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Egypt s TFK acquires Opio to form MENA region s first fashion aggregator
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Egyptian e-commerce startup Opio secures $300k seed round for expansion : TechMoran
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Opio raises $300,000 seed investment
Opio co-founders Shady Mokhtar and Reem Abdellaftif
Egypt-based women’s fashionwear brand Opio has raised $300,000 in a seed round from AUC Angels, local and regional angel investors along with follow-on funding from Flat6labs Cairo.
Launched in 2017, Opio is a direct-to-consumer e-commerce platform and commissions white label and toll manufacturing women’s wear apparel to different manufacturers.
“What I see in this market is a huge supply-demand imbalance.” said Shady Mokhtar the co-founder and CEO of Opio, adding “Egypt has thousands of manufacturers with exceptional manufacturing capabilities yet, a total lack of modern day customers requirements, up to date fashion trends and marketing know-how, specifically in digital marketing practices. On the other hand we’ve witnessed some jaw dropping internet penetration in Egypt the past 10 years, a hyper exposed gen Z, with very limited online offerings.”