{"id":542680,"date":"2022-01-11T04:12:36","date_gmt":"2022-01-11T04:12:36","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/11\/homzmart-wants-to-grow-its-footprint-in-asia\/"},"modified":"2022-01-11T04:12:36","modified_gmt":"2022-01-11T04:12:36","slug":"homzmart-wants-to-grow-its-footprint-in-asia","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/11\/homzmart-wants-to-grow-its-footprint-in-asia\/","title":{"rendered":"Homzmart wants to grow its footprint in Asia"},"content":{"rendered":"

<\/a> Homzmart is eyeing South Asian expansion:<\/strong> Furniture and home goods marketplace Homzmart<\/a> is targeting expansion into South Asian countries, Al Mal<\/a> quotes company head Mahmoud Ibrahim as saying. The company entered Saudi Arabia in November<\/a>, giving it access to a USD 15 bn market that\u2019s growing 10% each year.<\/p>\n

Local expansion is also on the wishlist: <\/strong>Homzmart wants to serve between 20-25 mn homes and is eyeing new customers in the new administrative capital and on the North Coast. The company currently has between 100k-200k customers, Ibrahim said. No timeline was given for the local or international expansion plans.<\/p>\n

More funding coming?<\/strong> The company is currently holding talks with investors to raise more financing, the company head said, without giving any details. Investors from Europe and the US are finding Arab markets increasingly appealing, he said.<\/p>\n

About Homzmart: <\/strong>Founded in 2019, Homzmart connects suppliers with consumers, showcasing 55k furniture products from different brands and merchants. Last year, the company landed USD 15 mn in a series A<\/a> round led by China\u2019s MSA Capital<\/a> and Emirati-Saudi VC firm Nuwa Capital<\/a>, bringing the total amount raised by the company to USD 17.2 mn.<\/p>\n","protected":false},"excerpt":{"rendered":"

Homzmart is eyeing South Asian expansion: Furniture and home goods marketplace Homzmart is targeting expansion into South Asian countries, Al Mal quotes company head Mahmoud Ibrahim as saying. The company entered Saudi Arabia in November, giving it access to a USD 15 bn market that\u2019s growing 10% each year. Local expansion is also on the […]<\/p>\n","protected":false},"author":1,"featured_media":542681,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7258],"tags":[72,333,95],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-542680","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-startup-watch","tag-enterpriseam","tag-homzmart","tag-startup-watch","wpautop","entry"],"acf":{"mongo_id":"a740d1ee-5cb2-45eb-97c7-0ca6cbd4efb8","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/1\/121.jpg","photo_position":"above","related_issue":[542669],"teaser":"","voice_url":""},"yoast_head":"\nHomzmart wants to grow its footprint in Asia - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/11\/homzmart-wants-to-grow-its-footprint-in-asia\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Homzmart wants to grow its footprint in Asia\" \/>\n<meta property=\"og:description\" content=\"Homzmart is eyeing South Asian expansion: Furniture and home goods marketplace Homzmart is targeting expansion into South Asian countries, Al Mal quotes company head Mahmoud Ibrahim as saying. 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The expansion will give Homzmart access to a USD 15 bn market that is growing at a rate of 10% annually.About\u2026","rel":"","context":"In "Startup watch"","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/11\/619.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":565941,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/18\/homzmart-raises-usd-15-mn-in-series-a-funding\/","url_meta":{"origin":542680,"position":2},"title":"Homzmart raises USD 15 mn in series A funding","author":"enterpriseam admin","date":"18 May 2021","format":false,"excerpt":"Online furniture marketplace Homzmarthas landed USD 15 mn in a series A round led by China\u2019s MSA Capital and Emirati-Saudi VC firm Nuwa Capital, Menabytesreports, citing a statement by the company. Rise Capital, Impact46, EQ2 Ventures, and Outliers Ventures have also taken part in the round. A MENA expansion is\u2026","rel":"","context":"In "SPEED ROUND: STARTUP WATCH"","block_context":{"text":"SPEED ROUND: STARTUP WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/5\/381.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":544441,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/03\/homzmart-acquires-mockup-studio\/","url_meta":{"origin":542680,"position":3},"title":"Homzmart acquires MockUp Studio","author":"enterpriseam admin","date":"3 March 2022","format":false,"excerpt":"Furniture and home goods marketplace Homzmart has acquired Berlin-based startup MockUp Studio for an undisclosed sum, according to a press release (pdf). The tech-enabled interior design startup, founded in 2015, uses AI and computer vision to automatically measure and design a space \u201cto match user styles and the room architecture,\u201d\u2026","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/3\/37.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":545161,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/08\/meet-our-founder-of-the-week-homzmarts-mahmoud-ibrahim\/","url_meta":{"origin":542680,"position":4},"title":"Meet our founder of the week: Homzmart\u2019s Mahmoud Ibrahim","author":"enterpriseam admin","date":"8 March 2022","format":false,"excerpt":"OUR FOUNDER OF THE WEEK- Mahmoud Ibrahim, co-founder and CEO of Homzmart (LinkedIn).My name is Mahmoud Ibrahim, and I\u2019m the co-founder and CEO of Homzmart. I started my professional career at the age of 17, starting as a customer experience analyst at Cisco Systems. After that I joined Jumia for\u2026","rel":"","context":"In "Founder of the Week"","block_context":{"text":"Founder of the Week","link":"https:\/\/enterpriseam.com\/egypt\/category\/newsmakers\/founder-of-the-week\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/3\/454.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":568797,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/02\/04\/online-furniture-marketplace-homzmart-raises-usd-1-3-mn-in-seed-round-funding\/","url_meta":{"origin":542680,"position":5},"title":"Online furniture marketplace Homzmart raises USD 1.3 mn in seed round funding","author":"enterpriseam admin","date":"4 February 2020","format":false,"excerpt":"STARTUP WATCH- Online furniture marketplace Homzmart has raised USD 1.3 mn in seed round funding from China\u2019s MSA Capital, the Oman Technology Fund (OTF), and Choueiri Group\u2019s Equitrust, reports Menabytes. 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