Taeillo, a Nigerian-based online furniture eCommerce startup, has secured a $2.5 million funding round led by Aruwa Capital.
Taeillo is an online furniture eCommerce company that serves B2B clients as a custom furniture designer, and it was founded by Jumoke Dada in 2018.
However, the COVID-19 pandemic in 2020 allowed the business the possibility to broaden its clientele to B2C customers in search of moderately priced, locally created, high-quality furniture.
Taeillo purchases raw materials from regional manufacturers and crafts a variety of furniture, including couches, beds, chairs, and tables, which it offers for sale to both private customers and commercial clients.
According to Taeillo, it has been difficult for the company to satisfy demand because of the popularity of certain of its furnishings among the millennials and working-class populations in Nigeria. As a result, the delivery of products has taken months on many occasions.
According to Dada, working with third-party providers, such as suppliers and logistical services, is one of the reasons for the extended wait periods that customers experience.
Since its inception, the startup has gained a great deal of traction. Over 5,000 customers have received more than 10,000 pieces of furniture from the startup so far.
The money will go toward marketing the company’s “Pay with Flexi” offering, which helps customers buy furniture on credit and pay for it in installments.
The startup plans to use the funds to pre-manufacture some of its best-selling furniture so that it can start production only once it receives client orders, cutting delivery times to roughly 3-5 days.