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Lagos-based startup, Taeillo, secures $2.5M funding. 2 other stories and a trivia



This line-up of stories will help you discover the latest happenings around the tech world today

1. Lagos-based startup, Taeillo, secures $2.5M funding

A Lagos-based startup, Taeillo, has secured $2.5 million in funding from Aruwa Capital to scale its online furniture e-commerce platform.

Taeillo disclosed this in a statement on Monday.

Aruwa Capital is a Nigeria-based early-stage growth equity and gender-lens fund.

Founded in 2018 by Jumoke Dada, the online furniture seller says it sources raw materials from local suppliers and manufactures furniture pieces from sofas and beds to chairs and tables, which it sells to individual customers and businesses.

“We are thrilled to announce this investment into Taeillo as it aligns with nearly all of our investment objectives. Since its inception, the Company has maintained its innovative model in a traditional brick-and-mortar industry, creating a unique value proposition for its customers in a fast-growing, underserved market,” Adesuwa Okunbo Rhodes, Founder & Managing Partner of Aruwa Capital,

Ripples Nigeria gathered that in 2021, Taeillo secured a $150,000 bridge round from CcHUB Syndicate as it tripled its revenue from 2020.

Tech Trivia: What company developed the JFS file system?
A. Microsoft
C. Google
D. Apple
Answer: see end of post

2. Morocco-based e-commerce, Justyol, secures additional $350,000 pre-seed round

A Moroccan e-commerce company, Justyol, has secured an additional $350,000 in a pre-Seed round.

Read also:Social commerce startup, Kapu, exits stealth with $8M funding. 2 other stories, and a trivia

Co-Founder and the CEO of Justyol, Ahmed Badran, confirmed this in a release seen by Ripples Nigeria on Monday.

Justyol bills itself as a unique cross-border marketplace/e-commerce startup addressing the Mena market with a unique, native, and high-end web/application that bridges the gap between the Turkish fashion market and Mena markets.

Ripples Nigeria understands the startup raised the pre-seed investment following a $100,000 last August in the same fund-raising round from Earn Rocket Investment holding.

Badran said: “We have a ‘strategic’ plan it’s called (doing things), as we believe that It’s not about ideas. It’s about making ideas happen, and an idea’s value lies in its use.”

The startup was founded in 2022 by Ahmed Badran and Ahmed Rashed.

3. PayTabs secures 100% stake in Paymes.

PayTabs has announced a 100% acquisition in Turkey’s social commerce platform, Paymes.

Abdulaziz Al Jouf, Founder and CEO of PayTabs Group, confirmed the acquisition in a media release on Monday.

Ripples Nigeria understands that Paymes will serve as PayTabs’ social commerce platform, enabling customers across the Middle East and Africa to receive instant payments.

“Payments are a commodity and our mission is to ensure that payments are easily made available to every customer segment from the super merchant or bank to a nano merchant.

“By acquiring Paymes, we are consolidating our position as the only payment solutions powerhouse that has a payment orchestration platform to offer payments solutions for any business size – micro or macro, across the globe,” the Founder stated.

The acquisition will also allow PayTabs to grow and expand its payment footprint in the Eurasian markets.

Trivia Answer: JFS

Stands for “Journaled File System.” JFS is a 64-bit file system created by IBM. The initial version of JFS (also called JFS1) was developed for IBM’s AIX operating system and was released in 1990.

In 2001, IBM released JFS2 (the Enhanced Journaled File System), as well as a version of JFS that is compatible with the Linux operating system.

By Kayode Hamsat

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