Ariika looks investors at home and in the region to fund growth plan: Digital-led home furnishing brand Ariika has raised USD 3 mn in a series A extension round led by Beltone Venture Capital and UAE-based Citadel International Holdings, according to the company’s press release (pdf).

Where is the money going? The funds will support ariika’s expansion in its home market and help strengthen its presence in Saudi Arabia and Iraq, which are expected to account for half of the company’s consolidated business by 2025. Ariika recently opened a flagship store in Baghdad and plans to launch its first Saudi Arabia location in January. The funds will also be channeled into developing its product portfolio and executing go-to-market strategies as part of its efforts to tap into a USD 20 bn home and decor market in the MENA region.

About ariika: Founded in 2016, Ariika is a digital-led home furnishings company that serves customers through online and offline channels. The startup has achieved a compound annual growth rate (CAGR) of 90%, serving over 1 mn customers globally.

What they said: “Our strategy will always be to develop innovative, must-have products, build deep and personal connections with our consumers, and deliver a superior online and offline experience. We are a value- based brand focusing on our people, customers, quality, and profits,” said co-founder and CEO Khaled Attalah.

**We sat down with Attalah last year for our Founder of the Week column. You can check out the interview here.

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