Showroom.ng, pioneering online furniture marketplace, has just secured seed funding. Founded earlier in this year by Sheriff Shittu, an ex-Konga Business Analyst. The company has shown its ability to make quality furniture available to startups in tech community and as such securing its place as a worthy contender for the furniture niche in the country.
“It’s our goal to make quality modern furniture available to growing middle class in the country at affordable prices,” Shittu tells Techpoint, “we understand the enormous pressure our growth is bringing on our ability to meet up with our commitment, reason for seeking additional funding to make sure we can pursue our goal of building a one-stop destination for home and office furniture you can rely on. ”
The seed funding is coming only 9 months after Showroom.ng launched in February. The new capital injection should go towards the achieving Shittu’s ambition for the startup — no less than $50 million valuation by 2020.
Showroom.ng has chosen not to disclose the amount of the funding at this time, however letting on that it is in the range of 7-figures and sourced 100% locally.
Nigerian startups raised $17.6m in Q1 2019, 8.5% higher than they did in Q1 2018. Find out more in the latest quarterly edition of the Nigerian Startup Funding Report here.