Nejree, a Saudi online fashion platform, has raised $15 million in Series A funding to expand its innovative Try Now Buy Later service, positioning itself as a leader in the evolving e-commerce market.
Information on the Target
Nejree is a pioneering online fashion and lifestyle platform based in Riyadh, Saudi Arabia, established in 2018. The company aims to revolutionize the online shopping experience by providing innovative, convenient, and disruptive solutions within the digital fashion and lifestyle sector. Founder and CEO Ibrahim Al Mogren emphasized that Nejree is committed to enhancing the customer experience by leveraging advanced technologies such as big data and artificial intelligence.
Recently, Nejree launched 'Nejree Closet', a disruptive Try Now Buy Later (TNBL) model which allows customers to receive products for trial without any upfront payment. This model addresses a significant challenge in e-commerce—the inability for consumers to physically try products before purchasing—by delivering a fun and engaging shopping experience from the comfort of their homes.
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Industry Overview in Saudi Arabia
The e-commerce sector in Saudi Arabia has witnessed remarkable growth in recent years, fueled by increasing internet penetration and smartphone usage. As one of the largest markets in the Middle East, the Kingdom has been experiencing a digital transformati
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Disclosed details
Transaction Size: $15M