Nigerian -based Taeillo, an on-line furnishings e-commerce platform , has raised $2.5 million funding from Aruwa Capital, a Nigeria-based early-stage development fairness and gender-lens fund.
Based in 2018 by Jumoke Dada, The net Furnishings and Way of life Model designs and manufactures furnishings by harnessing native assets and manufactures furnishings items, similar to sofas and beds ,chairs and tables, which it sells to particular person prospects and companies .
Taeillo, founder Jumoke Dada mentioned, “This partnership with Aruwa Capital will take us one step nearer to realizing our imaginative and prescient of turning into the IKEA of Africa by producing high-quality, and ready-to-assemble furnishings items made in Africa at an reasonably priced value for the mass market; whereas streamlining our enterprise processes and enhancing our buyer expertise.”
The funding seeks to “cut back the manufacturing and the supply time to the shortest doable time and launch extra merchandise that extra Africans will love and need.
Taeillo can also be eyeing enlargement into East Africa and the diaspora powered by the supply of revolutionary items. “We would like extra properties and companies in new markets to have a really feel of our presence by our furnishings”.
Adesuwa Okunbo Rhodes, Founder & Managing Companion of Aruwa Capital, mentioned: “We’re thrilled to announce this funding into Taeillo because it aligns with practically all of our funding goals. Since its inception, the Firm has maintained its revolutionary mannequin in a conventional brick-and-mortar business, creating a singular worth proposition for its prospects in a fast-growing, underserved market. By leveraging know-how in its worth chain, Taeillo has been in a position to obtain exponential development in lower than 2 years, reaching outcomes that take conventional furnishings corporations many years to attain. Consistent with Aruwa’s gender lens investing technique, Taeillo is based and led by a girl and has a 50% feminine illustration in its administration group. We’re very assured within the Firm’s means to scale throughout Africa and are thrilled to be partnering with the group for the thrilling journey forward.”
Taeillo is dedicated to creating each African house have not less than a bit of its furnishings. Just lately, the enterprise launched Paywithflexi ,a product that permits prospects to pay in installments for furnishings and already over 200 early subscribers have signed up for it.
Since its launch, Taeillo has shipped over 10,000 furnishings items to over 5,000 prospects in Nigeria and Kenya.