1️⃣ Introducing The Folklore
The Folklore, founded in 2018 by Amira Rasool, initially aimed to open the global market for fashion brands from diverse backgrounds. This platform has now evolved to include beauty, health, and wellness companies, servicing them through a robust B2B marketplace and wholesale management software, The Folklore Connect. This evolution reflects The Folklore's commitment to adapting to the needs of a broad consumer base.
2️⃣ New Funding on the Horizon
The recent $3.4M seed funding round led by Benchstrength, and participated by Slauson & Co., Techstars, and Black Tech Nation Ventures, has brought The Folklore's total funding to $6.2M. This injection of capital is earmarked for expanding services that help partner brands scale, particularly focusing on providing access to capital and talent.
3️⃣ Innovative Financial Solutions
Among the new features is The Folklore Capital, a financial service offering up to $1M in loans to brands, assisting them in managing large orders from major retailers like Nordstrom. This initiative addresses a crucial need for upfront capital due to lengthy payment terms in the industry, which can stretch to 60 days.
4️⃣ Expanding Talent Access
To complement its financial solutions, The Folklore has also introduced a labor marketplace. This platform allows brands to source talent and manufacturing support on a flexible basis, which is essential for brands not ready to commit to full-time hires but still in need of occasional skilled assistance.
Will The Folklore's new initiatives resonate with global brands?
