Nigerian -based Taeillo, an on-line furnishings e-commerce platform , has raised $2.5 million funding from Aruwa Capital, a Nigeria-based early-stage progress fairness and gender-lens fund.
Based in 2018 by Jumoke Dada, The web Furnishings and Life-style Model designs and manufactures furnishings by harnessing native assets and manufactures furnishings items, comparable 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 inexpensive value for the mass market; whereas streamlining our enterprise processes and enhancing our buyer expertise.”
The funding seeks to “scale back the manufacturing and the supply time to the shortest attainable time and launch extra merchandise that extra Africans will love and wish.
Taeillo can also be eyeing growth into East Africa and the diaspora powered by the supply of modern items. “We would like extra properties and companies in new markets to have a really feel of our presence by way of our furnishings”.
Adesuwa Okunbo Rhodes, Founder & Managing Associate of Aruwa Capital, mentioned: “We’re thrilled to announce this funding into Taeillo because it aligns with practically all of our funding aims. Since its inception, the Firm has maintained its modern mannequin in a standard brick-and-mortar trade, creating a novel worth proposition for its prospects in a fast-growing, underserved market. By leveraging know-how in its worth chain, Taeillo has been capable of obtain exponential progress in lower than 2 years, reaching outcomes that take conventional furnishings firms a long time to attain. According to Aruwa’s gender lens investing technique, Taeillo is based and led by a lady and has a 50% feminine illustration in its administration group. We’re very assured within the Firm’s capacity 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 at the least a chunk of its furnishings. 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.