Online Furniture Retailer Taeillo Secures $2.5m for Expansion

Aruwa Capital, a growth equity and early-stage investor, has announced a $2.5 million investment round for Nigerian online retailer Taeillo. Jumoke Dada created the online furniture firm in 2018, and it now claims that demand has dramatically increased for some of its most well-liked products.

Taeillo purchases raw materials from regional manufacturers and crafts them into furniture items including couches, beds, chairs, and tables that are subsequently sold to both private consumers and commercial clients. It can operate as a manufacturer and a store thanks to this concept.

Dada received $165,000 in startup money for the business from backers like CcHUB Growth Capital, Montane Capital, and B-Knight. They initially primarily targeted businesses, but when the Covid-19 pandemic raged through 2020 and dwindled walk-in customers, they moved to a direct-to-customer business model.

Due to the fact that many people were at home at the time and the top furniture brands weren’t available online to service them, it was more or less a case of opportunity meeting preparation, according to the CEO.

Because traditional showrooms were also closed, there was a chance for companies like ours to position themselves and demonstrate that consumers could purchase furniture online without necessarily visiting showrooms.

The business says it can now pre-manufacture some of its best-selling furniture before a consumer places an order, which will enable it to cut delivery time to no more than three to five days.We’ve done a lot of work with less. We currently need exceptional personnel that will help us reach the next growth level, Dada said