Gifting Ecommerce Platform Teeela Nets $3.75M To Fuel Expansion

August 01, 2022 | 2 minutes read

Kuwait based Gifting Ecommerce platform Teeela has raised funding of $3.75M in a Pre Series A round.

Teeela, a gifting platform and app has received $3.75M in Pre-Series A funding. In a round led by Saudi Arabian investment firm Wealth Well- supported by strategic investment from Mad’s Investment Company and other prominent investors.

Founded  by Khaled Aly, Ibrahim Al-Khulaifi, Abdulwahab Al-khulaifi and Yahya Al Refaei in 2017. The startup provides  thousands of toys with personalized and customized gifting options  also including bespoke wrapping and last minute ordering.  It also gives its users opportunity to search by applying different filters. Such as age, category, or get inspired by new, and newly arrived games. Furthermore, the startup also ensures to  deliver the product in four hours.

Calling itself the largest online toy store app in GCC the Teeela’s moto is “endless toys endless play”. It’s motto and quick service, has  no doubt granted it the exponential growth in recent years.

Indubitably, ecommerce industry has witnessed augmented growth because of the development of dynamic platforms and apps which make shopping for shoppers efficient and easy. Also as  per stats the online sales in 2023 will reach $145.8 billion  and gifting is going to occupy a huge chunk in it. As UK and US which are one of the biggest ecommerce markets, spending  £950 a year on holiday gifts alone.

However, this fresh injection of funds will help Teeela grow across the GCC region. Its plan is to strategically grow in the Kingdom of Saudi Arabia and the United Arab Emirates. The startup is also targeting the Middle East’s $30Bn gifting market including children’s toys, goods and family products.

To conclude the Teeela’s aim is to provide a fast and seamless experience . Abdulwahab Al-Khulaifi, co-founder and CEO of Teeela on receiving the backing of well known investors said:

“We are proud to receive the backing of such well-respected investors who believe in our vision to be the number one choice for family gifting experiences. There is a huge opportunity to serve the gifting market with an exceptional range of products and personalized gift-wrapping options, providing customers with unmatched speed and convenience. “

Regarding the expansion plan he said:

“This funding will underpin our regional expansion, support product development and strengthen our ability to attract top regional talent to be part of our journey.”