Homzmart achieved strong growth metrics in recent years, with further growth expected on the horizon
Cairo, Egypt – 5 September, 2022: The Middle East’s leading furniture and home goods marketplace Homzmart is celebrating its third year in operation.
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Homzmart was founded by Mahmoud Ibrahim and Ibrahim Mohammed in 2020, in aims to digitize the furniture and homegoods industry, connect suppliers directly to consumers, and offer a tailored shopping experience meeting varying clients’ needs.
Homzmart has achieved ample achievements and results, building a prominent regional presence, and securing an app userbase of 1 million. These commendable milestones come on the back of the company’s affordable, quality offerings, as well as its strong partnership with 2,000 suppliers, including brands, factories, and craftsmen.
Homzmart recently expanded to the USD 15 bn Saudi marketplace, inaugurating first-of-its kind showrooms in aims to enhance customer experiences and direct contact. The furniture platform is also prominent in the Egyptian market, where it is consumers’ prime choice for furniture and home goods. Homzmart has delivered 500,000 items, and its unique mix of 250,000 product offerings has helped furnish over 200,000 Egyptian households across 16 governorates.
Homzmart CEO and Founding Partner Mahmoud Ibrahim, said, “I am proud of our achievements thus far, despite us starting the company at a difficult time, in light of the coronavirus pandemic. We were able to reach many successes in recent years, thanks to the trust instilled by our clients and the support of our partners, as well as the collaborative efforts of the Homzmart team.”
He added, “We have much more in the pipeline to meet clients’ expectations. We are also keen to move forward with expansions in promising neihbouring markets.”
Homzmart’s aggregate investments are close to USD 40 million, and the company recently closed a pre-Series B investment round at a sum of USD 23 million, led by the Saudi Arabia-based STV fund. Homzmart will utilize the new financing in expanding to offer new furniture designs on the platform to meet broad range of preference demands, opening more showrooms to compliment its online experience, as well as supporting its flagship brand.
