On Thursday, Swag Kicks, which describes itself as a sustainable fashion platform for Pakistani Millennials and Gen-Zers, revealed that a $1.2 million seed financing backed by i2i Ventures had been completed.
Techstars Toronto, CrossFund HongKong, Rose Lake Ventures, i5 Capital, STAK group, and other international venture capital (VC) companies participated in the seed round as well, the company said in a statement. Swag Kicks wants to “dominate” the expanding secondhand markets by selling previously owned fashion products such as shoes, bags, clothes, and accessories on its web platform after “cleaning and disinfecting” them.
The CEO of Swag Kicks, Nofal Khan, claimed that his business “bridges the gap” for customers looking for branded goods by bringing international fashion items to Pakistan.
According to the CEO of Swag Kicks, the business plans to use the most recent capital to strengthen its position in Pakistan’s market. We require a larger facility to handle our expanding inventory. A larger inbound facility would be built. Also, the money would go towards marketing, inventory purchasing, etc., he added.
According to the company, ThriftOps, an in-house created inventory management software, will let Swag Kicks expand and provide its services globally, unlike other thrift marketplaces that have difficulty scaling their operations.
According to Khan, “ThriftOps helps us to realize the full potential of our scalability; the software enables us to access worldwide pre-loved fashion markets while also carrying out activities of inventory management, storage, and purchasing as well. Together with Nofal Khan, Mateen Ansari, and Hamza Abid are co-founders of Swag Kicks.
Although Ansari has experience working with Daraz, The Luxury Closet, and Careem, Abid has vast knowledge in international pre-owned clothes trading, the statement continued.
