Homzmart, an Egypt-based furniture and home supplies marketplace has raised $23 million in its Series B funding round to improve its operations.
- The fund will be used to improve its product, expand its services, and develop its logistics offering, the startup claims.
- Homzmart evolved from connecting brands and manufacturers with customers in the Arab World to a scalable marketplace.
- The startup expanded to Saudi Arabia earlier this year and is now making up to 25-30% of the total business volume from the region.
- STV, Impact46, Outliers Ventures, Rise Capital, and NUWA Capital invested in the round, bringing the home goods startup to $40 million in total funding.