The Saudi online fashion and lifestyle platform Nejree aims to build on early success of its try now pay later model.
Nejree, the Saudi online fashion and lifestyle platform, has raised $15M in a Series A round led by the Impact46 growth fund. The Riyadh-based e-commerce start-up which recently launched Nejree Closet, a try now buy later (TNBL) model that was established in 2018. It said it will use some of the funds to develop Nejree Closet and to launch into new markets.
“Each day at Nejree, embracing our vision, we strive to enhance and innovate by delivering the most convenient, reliable and unique experience, using big data, AI and innovative tech solutions,” said Founder and CEO Ibrahim Al Mogren.
Under its Nejree Closet initiative, the platform allows consumers to try on products for free with no upfront payment before deciding to buy it. Al Mogren said the solution is tackling a key challenge within online shopping and targets fit-size issues, and the feel-look-quality of the products.
“We have released five different versions of app updates in less than 60 days to deliver Nejree Closet experience at scale. A whole ecosystem is very critical for the success of this service. We are investing tremendously in the whole in-house supply chain and infrastructure from logistics, operations, real-time updates and automation,” he said. “While there is still huge investments & awareness for mass adoption to take place, we believe the whole industry will inevitably move into the TNBL model.”
