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Innovative Startups and SMEs Fund invests $150,000 in Trteeb

By JT - May 17,2021 - Last updated at May 17,2021

AMMAN — The Innovative Startups and SMEs Fund (ISSF) — the largest investment fund of its kind in Jordan — has announced a direct investment of $150,000 in Trteeb, which is a company based in Jordan and Saudi Arabia, according to an ISSF statement. 

The investment, which was made in January 2021, underlines the strategy of the ISSF to support 150-200 local innovation companies through direct and indirect investments (the latter in investment funds) and build the capacities of 825 entrepreneurs and SMEs through specialised training to qualify them for prospective investments, the statement said. 

Trteeb leverages advanced technologies to provide an online platform specialising in tailoring traditional Arab garments by connecting customers to tailors, consequently stimulating market performance and positively impacting all involved parties, according to the statement.

The platform presents customers with the option to either choose from a selection of available fabrics and designs or customise their thobes to suit their diverse preferences, alongside easy and convenient measuring methods to ensure ultimate comfort and satisfaction, read the statement.

“Since our founding in 2017, we have been placing special focus on promising innovative startups that utilise technology to support different local markets, and Trteeb is a prime example of such a company. Through this investment, we are looking to accelerate the growth of Trteeb’s operations both locally and regionally, as well as empower its highly talented team, in order to ultimately advance the national economy and achieve the development and prosperity we aspire towards,” said ISSF CEO Laith Al Qasem in the statement.

 

Trteeb Co-Founder, Sultan Basyoni, said: “We have been in contact with the ISSF from the outset and, ever since, their expert team has guided Trteeb and other startups within the ecosystem in tackling and overcoming critical challenges, consequently adding great value and saving us time and effort.”

“This investment, which underscores the ISSF’s steadfast commitment to supporting and enabling Jordanian tech companies to succeed, will be used to sustain the development of our employees and products both inside and outside the Kingdom," Basyoni said in the statement.

 

The ISSF is registered as a Jordanian private shareholding company. The objective of the ISSF is to support and elevate Jordan’s entrepreneurial and innovation landscape by facilitating the establishment of new investment funds that serve the ecosystem; making direct investments in innovative, export-oriented and scalable local startups; as well as implementing initiatives that improve the capabilities of Jordanian entrepreneurs and startup teams through training, capacity building and targeted incubation and acceleration programmes, according to the statement.

 

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