{"id":565941,"date":"2021-05-18T13:38:41","date_gmt":"2021-05-18T13:38:41","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/18\/homzmart-raises-usd-15-mn-in-series-a-funding\/"},"modified":"2021-05-18T13:38:41","modified_gmt":"2021-05-18T13:38:41","slug":"homzmart-raises-usd-15-mn-in-series-a-funding","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/18\/homzmart-raises-usd-15-mn-in-series-a-funding\/","title":{"rendered":"Homzmart raises USD 15 mn in series A funding"},"content":{"rendered":"

Online furniture marketplace <\/strong>Homzmart<\/a><\/strong>has landed USD 15 mn in a series A round led by <\/strong>China\u2019s MSA Capital and Emirati-Saudi VC firm Nuwa Capital,<\/strong> Menabytes<\/a>reports, citing a statement by the company. Rise Capital, Impact46, EQ2 Ventures, and Outliers Ventures have also taken part in the round.<\/p>\n

A MENA expansion is in the pipeline: <\/strong>The online platform will use the funding to \u201cexpand regionally\u201d as well as boost its value chain, co-founder and CEO Mahmoud Ibrahim said.<\/p>\n

The new round of financing brings the total amount raised to <\/strong>USD 17.2 mn<\/a><\/strong>. This includes the USD 1.3 mn<\/a>the startup raised in February 2020 from MSA Capital, the Oman Technology Fund and Choueiri Group\u2019s Equitrust. Nuwa<\/a>also earlier invested in the Cairo-based platform, but it wasn\u2019t clear how much back then.<\/p>\n

Strong performance despite the global economic slowdown: <\/strong>Homzmart had its sales grow over 30x over the past 12 months, the statement read. The company said earlier it aims to get a slice of the USD 60 bn regional market for furniture.<\/p>\n

About Homzmart: <\/strong>The Egyptian startup was founded in late 2019 by former Jumia execs Mahmoud Ibrahim (LinkedIn<\/a>) and Ibrahim Mohamed (LinkedIn<\/a>), with the platform officially launching in 1Q2020. The platform directly connects suppliers with consumers, showcasing a variety of 55k furniture products from several brands and merchants.<\/p>\n","protected":false},"excerpt":{"rendered":"

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 in the pipeline: The online […]<\/p>\n","protected":false},"author":1,"featured_media":565942,"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":[10043],"tags":[633,333,95],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-565941","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round-startup-watch","tag-enterprisepm","tag-homzmart","tag-startup-watch","wpautop","entry"],"acf":{"mongo_id":"52260fc8-f1aa-4e34-ba4d-a17fc5d9e42b","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/5\/381.jpg","photo_position":"above","related_issue":[565935],"teaser":"","voice_url":""},"yoast_head":"\nHomzmart raises USD 15 mn in series A funding - 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\/2021\/05\/18\/homzmart-raises-usd-15-mn-in-series-a-funding\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Homzmart raises USD 15 mn in series A funding\" \/>\n<meta property=\"og:description\" content=\"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. 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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":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":565941,"position":1},"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. The B2C ecommerce platform, founded last year by former Jumia execs Mahmoud Ibrahim and Ibrahim Mohamed, will use the funding\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":542680,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/11\/homzmart-wants-to-grow-its-footprint-in-asia\/","url_meta":{"origin":565941,"position":2},"title":"Homzmart wants to grow its footprint in Asia","author":"enterpriseam admin","date":"11 January 2022","format":false,"excerpt":"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\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\/2022\/1\/121.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":548274,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/02\/homzmart-closes-usd-23-mn-pre-series-b-round\/","url_meta":{"origin":565941,"position":3},"title":"Homzmart closes USD 23 mn pre-series B round","author":"enterpriseam admin","date":"2 August 2022","format":false,"excerpt":"Homzmart just closed one of Egypt\u2019s largest funding rounds this year: Furniture and home goods marketplace Homzmart has closed a USD 23 mn pre-series B round, it said in a statement (pdf) yesterday. The round saw participation from Saudi VC STV as well as existing investors including Impact46, Outlier Venture\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\/2022\/8\/118.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":575289,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/10\/11\/payroll-management-startup-nowpay-raises-usd-2-1-mn-in-seed-funding\/","url_meta":{"origin":565941,"position":4},"title":"Payroll management startup NowPay raises USD 2.1 mn in seed funding","author":"enterpriseam admin","date":"11 October 2020","format":false,"excerpt":"STARTUP WATCH- Payroll management startup NowPay has raised USD 2.1 mn in seed funding from a group of Egyptian, US, UAE and Chinese investors led by Foundation Ventures and Endure Capital, according to a company statement (pdf). 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