The Folklore, a B2B marketplace focused on connecting global retailers with diverse consumer brands, has secured $3.4 million in a seed funding round.
This new capital brings Folklore’s total funding to $6.2 million and will be used to fuel further growth and expand the services offered to brands on the Folklore platform.
Founded in 2018, the company initially aimed to connect fashion brands from emerging markets with international retailers. Since then, the platform has expanded to include beauty, health, and wellness brands, creating a more diverse marketplace for both sellers and buyers.
“The key to The Folklore’s consistent user and revenue growth is continuing to build things that make sense for the customers we are targeting,” said Amira Rasool, founder of The Folklore. “We prioritize understanding the needs of our brands and building solutions that address those challenges.”
Recognizing the financial limitations faced by many small businesses, particularly diverse-owned brands, The Folklore is introducing new services to address this need. One such offering is The Folklore Capital, which provides brands with access to working capital loans of up to $1 million.
“Access to capital is a major barrier for many small businesses, especially diverse brands,” said Rasool. “The Folklore Capital helps bridge this gap and empowers brands to fulfill large wholesale orders or hire additional staff to manage their growth.”
Another new service is a talent marketplace connecting brands with freelance talent and manufacturers. This allows brands to access skilled professionals on a project basis, eliminating the need for full-time hires.
These new offerings complement The Folklore’s core B2B marketplace and SaaS platform, which connects brands with retailers and provides them with tools to manage their wholesale business. Brands gain access to these additional services upon signing up for the platform.
The Folklore is focused on diversity and inclusion, grooming a community that celebrates brands from a wide range of backgrounds. The company outlines its goal of creating inclusive spaces, challenging barriers, and amplifying the voices of emerging brands.
Folklore achieves this through initiatives like diverse showrooms, educational resources, and partnerships with like-minded organizations.
The Folklore invites brands, retailers, and industry leaders to join its community and contribute to enhancing a more inclusive and equitable retail sector.
