Egyptian Furniture Marketplace Homzmart Expands to Saudi Arabia
The online furniture seller has experienced incredible growth in the last two years and is now poised to take over one of MENA's biggest markets.
Egypt-based furniture and home goods platform Homzmart announced their expansion into the Saudi Arabian market, which will begin this week.
Homzmart's Saudi platform will cooperate with top international brands with a strong Saudi presence, such as Al-Motlaq Furniture and Al Rugaib Furniture, as well as local workshops and artisans.
“We have been growing hugely in the last ten months, with operations having tripled in size as we keep up with consumer demand," Mahmoud Ibrahim, CEO and co-founder of Homzmart, says. "The new normal is that convenience wins and furniture is one of the last sectors in the Kingdom to digitise. KSA consumers and SMEs want this convenience now, and we are delighted to offer it to them.”
The expansion is widely considered to be well-timed, considering that the KSA's national housing development programme opens up a large consumer base of new home owners. Homzmart will be able to provide them with tens of thousands of products, along with flexible financing options. The intuitive platform incorporates Artificial Intelligence to optimise its content in accordance with the consumer's preferences and needs.
Homzmart's rapid growth comes after a successful Series A funding round last May, which saw them raise $15 million - the largest funding round for the furniture and home goods sector in the MENA region thus far.
