La Reina, an Egyptian based startup has raised equity funding from Algebra and 500 Startups and other angel investors. La Reina is an online fashion platform that has recently launched a subscription service called “The Box” which allows customers to receive a box of clothes in fashion every week for a fixed monthly fee. The startup has been attracting investor funding since the US$1-million previously raised in 2018 and has partnered with fashion brands such as Mango and Zara. The amount invested or the equity stake acquired in La Reina was undisclosed.
Algebra Ventures is a well-known technology venture capital firm in Egypt that invests in core technology, e-commerce, fintech, industry marketplaces, business software and consumer internet companies. The firm has invested in companies such as Larena, Elmenus, Eventtus, Holidayme and Orcas amongst others.
500 Startups is a venture capital firm that backs the world’s most talented entrepreneurs and is one of the most active venture capital firms in the world. Since its inception in Silicon Valley, 500 Startups has invested in over 2,400 companies via its 5 global funds and 17 thematic funds dedicated to either specific geographic markets or verticals. Its 100+ team members are located in 20 countries around the world in order to support the 500 Startups global portfolio of investments in more than 75 countries. Notable investments in the portfolio include Credit Karma, Twilio, Canva, Grab, Bukalapak, The RealReal, Talkdesk, Knotel, Udemy, and Ipsy.