The online marketplace provides a wide variety of furniture and brand options, incorporating Artificial Intelligence to optimize furniture sellers’ content
Homzmart, an online furniture ecommerce marketplace, raised $15 million in a recent series A financing round to accelerate regional expansion plans, after raising $1.3 million in a seed round in February 2020.
“Homzmart provides an easy one-stop-shop platform to transform the experience for furniture sellers and consumers, and we are very excited about our next stage of growth. We are delighted to complete this funding round. It will accelerate our progress to expand regionally and execute our strategy of consolidating the whole value chain. I would like to thank all our investors for their support,” said Homzmart’s CEO and co-founder, Mahmoud Ibrahim.
Launched in 2020’s Q1, Homzmart has seen sales growth of more than 30x in the last 12 months, showcasing over 55 thousand products to over 14 million customers in the region, said the company in a statement.
The capital raise was led by MSA Capital and Nuwa Capital, alongside the other participating investors including Rise Capital, Impact46, EQ2 Ventures, and Outliers Ventures.
The online marketplace provides a wide variety of furniture and brand options, incorporating Artificial Intelligence to optimize furniture sellers’ content.
The platform aims to give a hassle-free, one-stop-shop shopping experience, with greater choice and flexible financing options.