Nigerian-Based Online Furniture eCommerce Store,Taeillo Raises $2.5m [Taeillo]
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.
READ MORE: Africa’s Mdundo Sees 112% Subscription Growth Despite Revenue Dip from Weak African Currencies
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.
The 67th Annual Grammy Awards air tonight, honouring the year’s biggest artists and chart-topping hits. With performances from Chappell Roan,…
Ladies and Gentlemen, The Nigerian hip-hop scene is on fire. With a string of scorching hot albums hitting the internet…
Penance follows the story of a young NYSC member who is strategically posted to the law firm of a man…
Every season, new talent emerges in the ever-changing world of youth football, but few have Ibrahim Rabbaj's raw skill, intelligence,…
Young star Destiny Kosiso emerges as the next major player in youth football. Nine-year-old Nigerian-born sprinter Destiny Kosiso creates a…
In recent weeks, social media discussions have revolved around the upcoming remix of Fido’s smash hit Joy is Coming, featuring…
This website uses cookies.