Palestine’s Fashion Startup Modesta has secured six figures SEED round to support its growth plans and expansion to markets in the GCC.
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Modesta, a modest fashion startup, has raised six figures funding in its SEED round led by 500 Startups and with the participation of the Innovative Private Sector Development Project (IPSD) program funded by the World Bank, and angel investors. Founded in March 2020 by Shatha Ajaj, Modesta is a fast-growing modest fashion E-commerce startup, that provides diverse modest choices for women whatever their interpretation of modesty.
The E-commerce space across the MENA region has been picking up pace since last year to become the 3rd most funded industry of the region in H1’22, as seen in our State of Startup Funding - H1 2022 Emerging Venture Markets Report. While sizbale funds have been injected into B2B E-commerce startups connecting retailers and suppliers like Pakistan’s dastgyr and social commerce and distribution platforms like Egypt’s Brimore, an emerging sector of E-commerce, Fashion E-retailing and Lifestyle, has been garnering a lot of investor attention. This year notable amounts of capital has been injected into fashion platforms including the likes of UAE’s Millennial Brands ($35M), The Giving Movement ($15M Series A), and KSA’s Kaya raising $2.6M in a SEED round.
The VC ecosystem across the MEAPT region has aggregated over $5Bn in funding in H1'22, as seen in our State of Startup Funding - H1 2022 Emerging Venture Markets Report. With MENA-based startups crossing the $2Bn mark in funds, a shift in VC dynamics has been observed. Download the FREE report to get a full diagnosis of the VC ecosystem across the Emerging Venture Markets.
According to the company, modest fashion has evolved significantly in the last 10 years attracting women from all around the world who choose to wear less skin-revealing clothes either for religious or personal reasons. Modesta aggregates special collections from various vendors and brands, aiming to make finding modest fashion for everyday easy and enjoyable experience. "We are creating our own modest movement through collecting unique season’s latest collections that satisfy the needs of modern women who adopt modesty in their lifestyle. Modesta has gained great popularity since the start in march 2020, delivering thousands of parcels to the doorsteps of our happy customers”. Shatha Ajaj, the founder and CEO of Modesta, commented on the investment.
Modesta will deploy the latest funding into expansion and reach a wider base of customers in Saudi and Bahrain along with the growth of the technology to aggregate more brands and vendors. Ajaj concluded, “The promise land for modesta is a global vision as a leading Modest fashion ecommerce for women to express their individuality” Shatha added.
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