African furniture company Taeillo, located in Nigeria, has acquired $2.5 million in equity capital to increase the distribution of cutting-edge, reasonably priced, locally-made furniture to homes and companies throughout the continent.
Leading the fundraising round and investing the whole $2.5 million, growth equity fund investment company Aruwa Capital will join the startup's other current investors.
The theory behind it was that because there is a gender disparity in capital allocators, women have an untapped opportunity to invest in underrepresented economic sectors with a natural competitive edge.
Jumoke Dada, the creator of Taeillo, and other African female innovators who are creating goods and services for the continent receive a huge boost from this fund investment because of their objective, which is centered on women.
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