ariika Secures $3M to Drive Regional Expansion in Home Furnishings
The newly secured funding will fuel growth in KSA and Iraq, driving regional market expansion and portfolio development.
ariika, a leading direct-to-consumer home furnishings brand in the MENA region, has raised $3 million in a Series A extension round led by Beltone Venture Capital and UAE-based Citadel International Holdings. This investment will accelerate ariika’s regional expansion and support its growing presence in key international markets, including Saudi Arabia and Iraq, which are projected to contribute 50% of its consolidated business by 2025. The startup has already launched its flagship store in Baghdad, Iraq, and is set to open its Saudi flagship in January 2025.
“With our relentless focus on compelling products, customer service, and profitable growth, we continue to outperform our peers and distinguish ourselves as one of the fastest-growing home brands in the region,” Khaled Attallah, Co-Founder & CEO of ariika, tells StartupScene.
Since its launch in Egypt in 2016, ariika has achieved a compound annual growth rate (CAGR) of 90%, serving over one million customers globally and reporting over 3x year-over-year sales growth on a USD basis.
“ariika has emerged as a standout company in a thriving sector, showcasing impressive operational results. With bold expansion plans, ariika is strategically positioned to become the leading home furnishings brand in MENA,” Ali Mokhtar, CEO of Beltone Venture Capital, adds.
The new capital will be deployed to fuel ariika’s local market expansion through portfolio development and go-to-market strategies while strengthening its regional presence, as ariika continues to scale its design-led, customer-focused approach to home furnishings.
