- Morocco-based lingerie e-commerce site Nessiam, has secured a $306,000 investment from CDG Invest, the CDG Group’s investment arm, as part of its 212 Founders programme.
- Founded in 2021 by Mohammed Damiri and Hamza Aouadi, Nessiam offers a variety of women’s underwear on its website.
- The investment will help Nessiam in its plans to become a benchmark brand in the Mena region and establish other product lines such as swimwear, and accessories for the forthcoming summer season.
Source: African Heroes
The CDG Group’s investment arm, CDG Invest, has provided Nessiam, an inclusive lingerie tech startup based in Morocco, with an equity financing of 3 million Dirhams ($306,000) under the 212 Founders programme. Nessiam benefited from local support as part of this investment, with the purpose of establishing its leadership in the Moroccan market and achieving its strategic objectives, which began with increasing its position in the Moroccan market and expanding in the Mena region.
The money will allow Nessiam to become a benchmark brand in the MENA region and establish other product lines such as swimwear, accessories, and so on for the forthcoming summer season.
Nessiam was able to receive the finance through participation in the third edition of the 212 Founders programme.
“Nessiam has demonstrated resilience and inventiveness in democratising an ethical brand in a fashion market dominated by fast fashion businesses. We won this challenge by incorporating technology into the project’s DNA, such as a digitalized sales process, user experience, marketing, community interactions, and so on. We were honoured to assist them in developing a strong brand on Moroccan soil and allowing them to take the initial steps in the MENA area. Following the lifting, we will make every effort to make Nessiam a prominent player in the region’s Fashion Tech,” Youssef Mamou, Director of the 212 Founders Programme — CDG Invest, said.
Following the completion of this latest round of investment, the 212 Founders programme will have completed 12 Seed and Series A financing totalling 57 million Dirhams ($5.8 million) since 2019.
The Nessiam, which was founded in 2021 by Mohammed Damiri and Hamza Aouadi was inspired by a simple observation that the majority of Moroccan consumers have a genuine need for high-quality underwear in all sizes at an affordable price.
The Nessiam brand offers a comprehensive and specialised selection of products to meet the needs of all women. Essentially, the startup provides women with fashionable, high-quality products at reasonable costs.
“Through Nessiam, Hamza Aouadi and I hope to do more than just meet market demand by offering products to our consumers at lower pricing. We also want to give ALL women a voice through our collections. This vision has become a reality thanks to the support of 212 Founders, who have enabled us to establish a brand that pursues our beliefs,” Mohammed Damiri, co-founder of Nessiam, said.