Teeela, gifting platform and app, raises $3.75 million in a pre-Series A round led by Saudi Arabian investment firm Wealth Well. The round was also supported by strategic investment from Mad’a Investment Company, Al-Akeel family and other prominent investors.
The funding will be used for Teeela’s expansion and growth across the GCC in Saudi Arabia and the United Arab Emirates.
“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. 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,” Abdulwahab Al-Khulaifi, co-founder and CEO of Teeela said.
Teeela provides a large selection of toys, with customised and personalized gifting options including bespoke wrapping and last-minute ordering.
The platform is also growing its team and bringing in regional talent as part of a recruitment phase in the second half of 2022.
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