Kuwait’s online toy shop Teeela eyes regional market expansion
Kuwait-based gifting e-commerce platform and toy shop Teeela is set to expand in the Middle East region to tap into the $30 billion gifting market, following a Pre-Series A funding round that raised $3.75 million, Zawya reports.
Saudi Arabian investment firm Wealth Well, Mad’a Investment Company, Al-Akeel family and several other investors injected $3.75 million into the company.
Teeela plans to use to money to fuel the growth of the company across the GCC, particularly in Saudi Arabia and the UAE, Zawya says citing a statement from the company.
“This will strengthen Teeela’s regional presence beyond its Kuwait headquarters as it targets the Middle East’s $30 billion gifting market, including family products, children’s goods and toys,” the company said.
Teeela, according to its website, is leading app for online toys shopping in the Gulf Cooperation Council region where you shop through a wide range of toys from different brands and categories.
The services also include wrapping and last-minute ordering.