Homzmart is an Egyptian online furniture marketplace that aggregates products from local manufacturers, companies, and artisans. The company reports more than 45,000 products in its inventory and says it provides over 150,000 exclusive products to more than 25 million households in Egypt and Saudi Arabia. In 2021 the business grew by 300% year over year. Homzmart plans to use new funding to streamline the furniture-purchase value chain, extend its regional reach, introduce interior design automation technology, expand digital showrooms across MENA, and improve logistics. The company emphasizes empowering local Saudi furniture manufacturing in line with Saudi Vision 2030 and aims to digitalize the entire home value chain. CEO Mahmoud Ibrahim said the firm will continue to invest in healthy expansion given the current macroeconomic climate. Homzmart operates an online marketplace that aggregates designs, prices and product details from thousands of furniture and home-goods merchants, offering flexible consumer financing and AI-driven content and decision tools. The platform showcases more than 55,000 products and says it grew 30x in sales over the past 12 months. Homzmart addresses high distribution costs for retailers by providing access to consumers and is building logistics capabilities to move large items from merchants to buyers. The company launched in Q1 2020 after being founded in 2019 and has strategically placed operations near Damietta City to streamline access to a major regional furniture manufacturing hub. Management plans to use a sizable tranche of the new funding to bolster logistics and institutional infrastructure to support rapid growth. Homzmart is positioning itself to expand across the MENA region and tap into an $80 billion industry where roughly 14 million regional consumers search online for furniture each month. Homzmart is an Egypt-based online furniture marketplace that connects furniture manufacturers and vendors with customers. The company was founded last year by Mahmoud Ibrahim and Ibrahim Mohamed, who previously built operations and logistics teams at Jumia; Mahmoud later served as MD and COO at Daraz. Homzmart says about 25 million people in the MENA region search for home furnishing every month and that relatively few manufacturers are online, which motivated the marketplace. The platform lists about 10,000 products and has over 2,500 customers ordering on it. Homzmart plans to use the seed investment to scale its technology, enhance customer experience and expand the team. The round is described in coverage as the largest seed fundraised by an Egyptian startup.

Total raised

$39M

Funding rounds

3

Latest round

Series B

Latest activity

Aug 2022