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 was able to access local support in this investment. Its purpose was to establish its leadership in the Moroccan marketplace and reach its strategic objectives.
This money will enable Nessiam, a leading brand in the MENA, to establish additional product lines, such as swimwear and accessories, for the upcoming summer season.
Nessiam was eligible to receive the financing through the participation in the third edition 212 Founders program.
“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 honored to be able to assist them in building a strong brand on Moroccan soil, and allowing them take the first steps in the MENA. 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.
The 212 Founders program will have raised 57 million Dirhams ($5.8million) in Series A and Seed financing since 2019.
The Nessiam was established in 2021 by Hamza Aouadi and Mohammed Damiri. It was inspired by the simple observation that most Moroccan consumers need high-quality, affordable underwear in all sizes.
The Nessiam Brand offers a broad and specialized selection of products to suit the needs of every woman. The startup offers fashionable, high-quality, affordable products for women.
“Through Nessiam, Hamza Aouadi and I hope to do more than just meet market demand by offering products to our consumers at lower pricing. Through our collections, we want to empower ALL women. 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.