Aruwa Capital, a Nigerian early-stage growth equity and gender-lens fund, announced a $2.5 million “expansion” investment in Taeillo, an online furniture eCommerce business with a Nigerian base.
Jumoke Dada created Taeillo in 2018, which manufactures furniture including couches, beds, chairs, and tables for sale to both individuals and companies using raw materials sourced from regional suppliers.
Taeillo claims it has had difficulty keeping up with demand due to the popularity of certain of its furniture among Nigeria’s millennial and working-class populations, frequently taking months to deliver products.
Working with third-party providers, such as suppliers and logistics services, according to Dada, is one of the causes of long wait times.
As a result, the company intends to use the funds to pre-manufacture some of its best-selling furniture rather than waiting until clients place orders before beginning production, reducing delivery times to around 3-5 days.
Furthermore, the funding will help the company expand its “Pay with Flexi” product, which allows customers to buy furniture and pay over time.