Egyptian startup Homzmart, the Middle East’s leading furniture and home goods marketplace, has announced the expansion of its operations into Saudi Arabia.
Hard-launched in early 2020 by Mahmoud Ibrahim and Ibrahim Mohamed, Homzmart is a digital platform connecting home goods and furniture manufacturers and brands with end consumers.
Homzmart’s platform and its end-to-solutions enable both retailers, including the likes of IKEA and Home Centre by helping them easily reach customers, and consumers who have a hassle-free, one-stop-shop shopping experience, with greater choice and flexible financing options.
Having seen strong uptake at home, and with a US$15 million Series A round in the bank, the startup is now planning to expand across the MENA region, and it has just launched operations in Saudi Arabia.
Homzmart’s Saudi platform will be working with many leading international brands, and the whole local ecosystem – including brands such as Al Rugaib Furniture and Al-Motlaq Furniture – plus local artisans and workshops.
“This exciting news about our entry to the US$15 billion Saudi Arabian market shows we are executing our stated strategy to expand regionally. We have always said how the market opportunity in the region is significant, and how Homzmart’s business model is perfectly set up for it,” said Mahmoud Ibrahim.
“We have been growing hugely in the last ten months, with operations having tripled in size as we keep up with consumer demand. The new normal is that convenience wins and furniture is one of last sectors in the Kingdom to digitise. Saudi Arabian consumers and SMEs want this convenience now, and we are delighted to offer it to them.”