{"id":17945,"date":"2022-08-01T13:35:45","date_gmt":"2022-08-01T13:35:45","guid":{"rendered":"https:\/\/www.meretailnews.com\/?p=17945"},"modified":"2022-08-01T16:19:23","modified_gmt":"2022-08-01T16:19:23","slug":"teeela-receives-3-75-million-investment-for-regional-expansion","status":"publish","type":"post","link":"https:\/\/www.meretailnews.com\/2022\/08\/01\/teeela-receives-3-75-million-investment-for-regional-expansion\/","title":{"rendered":"Teeela receives $3.75 million investment for regional expansion"},"content":{"rendered":"
\nTeeela, Kuwaiti online toys and gifts retailer, finalised a pre-Series A funding round worth $3.75 million today.<\/p>\n
The investment will fund Teeela\u2019s plans to expand its regional footprint, with an initial focus on Saudi Arabia<\/a> and the UAE<\/a>.<\/p>\n The financing was provided primarily by Saudi Arabian investment and wealth management firm Wealth Well, alongside Riyadh-based private equity firm Mada\u2019a Investment Company and other investors.<\/p>\n The region\u2019s gifts market, which includes toys and children\u2019s gifts, amounts to $30 billion, said Teeela.<\/p>\n The online retailer aims to capitalise on this growing industry.<\/p>\n \u201cWe are proud to receive such great support from pioneering investors in the sector who believe in our vision to be at the forefront of providers of family gifts and enjoyable experiences,\u201d said Abdulwahab Al Khulaifi, co-founder and CEO of Teeela.<\/p>\n \u201cThere is a huge opportunity to serve the gifting market with an exceptional range of products and personalised gift-wrapping options, providing customers with unmatched speed and convenience.<\/p>\n \u201cThrough funding we aim to enhance our regional expansion strategy, support our product development processes and attract the best regional talent to be part of our system environment and our journey towards growth and prosperity.\u201d<\/p>\n