Grace Ashiru
Aruwa Capital led a $2.5 million fundraising round for Taeillo, a Nigerian-based online furniture eCommerce firm.Taeillo is an online furniture store that Jumoke Dada started in 2018 as a custom furniture designer for B2B clients.
However, the COVID-19 pandemic in 2020 allowed the company to expand its clientele to B2C clients looking for reasonably priced, locally made, high-quality furniture.
Taeillo sources raw materials from regional manufacturers and handcrafts a wide range of furniture, including couches, beds, chairs, and tables, which it sells to residential and commercial customers.
Taeillo says that the popularity of some of the company’s furniture among Nigeria’s millennials and working-class people has made it hard for the company to keep up with demand. Because of this, products have often taken months to reach their destinations.
Dada says that customers have to wait longer because the company works with third-party providers like suppliers and logistics services.
Since it began, the startup has gotten a lot of attention. The company has sold more than 10,000 pieces of furniture to more than 5,000 customers.
The money will be used to promote the company’s “Pay with Flexi” service, which lets people buy furniture on credit and pay for it over time.
The startup wants to use the money to make some of its best-selling furniture ahead of time, so it can start making it only when a customer orders it. This will cut delivery times to about 3–5 days.
