Homzmart: Furniture marketplace based in Egypt.

The company, launched in 2020, will use the brand new funding to expand services, especially logistics, and fill gaps that appear in supply chains, co-founder and CEO Mahmoud Ibrahim said in an interview with Reuters.

Homzmart isn’t looking to be just an Egyptian platform, rather a regional platform,” said Ibrahim.
It creates a one-stop-shop, hassle-free experience for consumers that are easily linked to retailers such as for example IKEA and Home Centre.
This round of financing is co-led by China’s MSA Capital — one of the investors in Homzmart’s seed round in February 2020, alongside Nuwa Capital.
Other participants include Rise Capital, Impact 46, EQ2 Ventures, and Outliers CAPITAL RAISING.
“We decided this is a really good vertical that people needed to focus on and hold ourselves accountable to digitizing in your community,” Mahmoud said about developing the niche product.
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Founded by Mahmoud Ibrahim and Ibrahim Mohamed, Homzmart is an e-commerce marketplace that connects home furnishing manufacturers and vendors with customers, selling furniture online.
Mahmoud started his ecommerce career with Rocket Internet’s Jumia in 2012 as VP Operations and then went on to create Daraz, the best e-commerce platform of South Asia as Group COO once the company was acquired by Alibaba.
Ibrahim also started with Jumia heading its logistics development and expansion for the last 5 years before founding Homzmart with Mahmoud.
Homzmart currently showcases over 55,000 products from a large number of brands and merchants and claims to possess 30x growth in sales.
The online marketplace is tapping into the rapidly expanding $8 billion industry where 14 million customers in the region do some searching online for furniture monthly.
It also showcases more than 55,000 products from thousands of brands and merchants.
Homzmart, an Egyptian-based

China’s MSA Capital, one of many investors in Homzmart’s seed round, co-led this Series A investment alongside Nuwa Capital.
Other participating investors include EQ2 Ventures, Impact46, Outliers Capital, Nuwa Capital and Rise Capital.
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Latest Funding Round Brings The Full Total Raised By The Furniture Online Marketplace To Nearly $40m

When Homzmart kicked off its hard launch and raised its seed round, it had been right at the start of the pandemic.
Visualization techniques of MockUp Studio will also allow Homzmart’s customers to see and interact with the company’s whole catalogue in a small number of clicks.
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The company says it serves 25 million houses in Egypt and Saudi Arabia, with more than 150,000 products on the platform.

The platform showcases different designs to help customers personalize their ideas and vision for his or her home, and take it to reality, a feature the founders see being an important section of the furniture purchasing decision.
Homzmart plans to use the investment to scale its tech, enhance customer experience, grow its selection and expand the team.
Venture funding and deals hit an archive high in Egypt last year, with $491m invested across 147 transactions, start-up data platform Magnitt reported.

Homzmart’s first year in business was about understanding supply and demand.
The next year or two is a strategy to expand over the MENA region, helping fulfill demand from the young and fast-growing consumer middle class.
Its product offerings include curtains & upholstery, carpets, lightings, decors, beds, chairs, sofa, storage units, outdoor furniture, and more.
In the first half of this year, Egyptian start-ups raised about $314m, data published by

Last Raised

Homzmart will partner with a fragmented and largely unbranded supplier base to give them immediate access to technology, and contact with new customer base.”, Mahmoud says.
This entails extending the business’ regional reach, introducing Homzmart’s ground-breaking interior design automation technology, growing the quantity of digital showrooms throughout MENA, and improving the business’ logistical operations.
Commensurate with this, Homzmart has strategically established operations close to Damietta City.
Referred to as the region’s largest manufacturing hub, Damietta would allow the company to streamline MENA’s vertical industry supply chain.
MockUp Studio’s assets will enable Homzmart’s customers to visualize their furnished home although digitalization of the complete interior design process beginning with a clear room.

• The business, launched in 2020, will use the brand new funding to expand services, especially logistics, and fill gaps that come in supply chains, co-founder and CEO Mahmoud Ibrahim said within an interview
• However, the reverse was the case as consumers appeared to like the product, leading to increased sales, as witnessed in most eCommerce and marketplaces during the height of the pandemic.
• Direct sales are those where the goods or services come directly from the supplier or owner; indirect sales are those where another person or entity participates in the offer for a percentage of the earnings.

The startup expanded to Saudi Arabia earlier this season and is now creating to 25-30% of the full total business volume from the spot.
Homzmart evolved from connecting brands and manufacturers with customers in the Arab World to a scalable marketplace.
Earlier this year the business’s activities expanded to Saudi Arabia, and Ibrahim said it had achieved solid growth there.
“The percentage of activity in the Kingdom is currently between 25% and 30% of the full total level of Homzmart business,” he said in the interview on Sunday.

Additionally, Homzmart provides over 25 million households in Egypt and Saudi Arabia with over 150,000 exclusive products from the top manufacturers, companies, and artisans in the area.
Homzmart doubled down on the 2030 Saudi Vision by emphasizing the empowerment of the local Saudi furniture manufacturing industry with more than 45,000 products in its inventory.
Homzmart has increased its overall investments to almost $40 million after receiving $23 million in the Pre-series B funding Round.
As TechCrunch reports, Ibrahim says the business hopes to be sure it is building the proper institutional infrastructure because of its business and to make sure that after several years, it is creating a very solid, multi-billion dollar business.