Kuwait-based gifting platform Teeela raises over $3 million in funding

Teeela, a Kuwait-based customized gifting platform has raised $3.75 million in its pre-Series A funding round led by Well Wealth, a Saudi-based investment firm, with participation from Mad'a Investment company and others.

• The capital will be used for its regional expansion, product development, and hiring of new talents, the startup claims.
• Teeela offers a large selection of toys, with customized and personalized gifting options including bespoke wrapping and last-minute ordering.
• The gifting app has conversion rates four to five times higher than the average e-commerce marketplace and high customer retention.
• It intends to expand to the Kingdom of Saudi Arabia and the United Arab Emirates.