The Folklore, founded by Amira Rasool in 2018, originally set out to bridge the gap between fashion brands from emerging markets and the global market. Fast forward to 2022, the startup has evolved into much more than a fashion platform, introducing The Folklore Connect, a B2B marketplace and wholesale management software.
The expansion into a diverse range of consumer companies, including beauty, health, and wellness, has enabled global retailers to access inventory from a wide array of creators. Now, The Folklore is doubling down on its mission to empower brands from emerging markets with additional support to scale, including access to capital and talent.
To fuel this expansion, The Folklore recently closed a $3.4 million seed funding round led by Benchstrength, a VC firm founded by ex-General Catalyst partners Kenneth Chenault Jr and John Monagle. Existing investors, including Slauson & Co, Techstars, and Black Tech Nation Ventures, also participated in the round, bringing the startup’s total funding to $6.2 million.
With this fresh injection of capital, The Folklore aims to serve more brands by focusing on building services that cater to their specific needs. One such offering is The Folklore Capital, which provides brands with loans of up to $1 million as working capital. This initiative addresses a critical need for small businesses, particularly those from diverse backgrounds, by providing access to much-needed funds for scaling.
In addition to financial support, The Folklore is also launching a labor marketplace for brands that require talent occasionally but are not in a position to hire full-time teams. This community-driven platform connects brands with vetted talent and manufacturers recommended by fellow members.
These new offerings complement The Folklore’s existing B2B marketplace and SaaS product, providing brands with comprehensive support to navigate the complexities of scaling in the global market. As the startup continues to prioritize the needs of its customers, it remains dedicated to empowering diverse brands and creators on their journey to success.
