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This article was published on May 13, 2013


    Rocket Internet-backed Namshi lands $13m to grow its online fashion store for the Middle East

    Rocket Internet-backed Namshi lands $13m to grow its online fashion store for the Middle East Image by: André Maslennikov
    Robin Wauters
    Story by

    Robin Wauters

    Robin Wauters is the European Editor of The Next Web. He describes himself as a hopeless cyberflâneur, a lover of startups, his family a Robin Wauters is the European Editor of The Next Web. He describes himself as a hopeless cyberflâneur, a lover of startups, his family and Belgian beer. If you'd like to know more about Robin, head on over to robinwauters.com or follow him on Twitter.

    Namshi, an popular online fashion store in the Middle East that was started by the Samwer brothers’ Rocket Internet accelerator, has raised $13 million in funding from growth equity firm Summit Partners.

    The private investment firm regularly backs Rocket Internet ventures, particularly in emerging markets: see its investments in Linio, Lazada and Dafiti for just a few examples.

    This round also marks Summit Partners’ second investment in Namshi, an online store for fashion and lifestyle accessories that operates out of Dubai but services Qatar, Saudi Arabia, Bahrain, Kuwait and Oman alongside the United Arab Emirates.

    Prior to this financing round, Namshi received backing from Kinnevik, JP Morgan Chase, Blakeney Management, Holtzbrink Ventures and others.

    Online Fashion Shopping, Shoes, Clothing, Dresses   Namshi UAE

    The $13 million infusion is meant to support the fledgling company’s efforts to scale up operations and gain a stronger foothold in the Middle East.

    The fresh capital will also be used to make a warehouse move to a centralised distribution center fully owned by the company.

    Namshi, which was founded in 2012, currently offers items from over 550 footwear and fashion brands, including Nike, Lacoste and Puma.

    Online Fashion Shopping, Shoes, Clothing, Dresses   Namshi UAE (1)

    Top image credit: Thinkstock