Homzmart, an Egyptian-based furniture marketplace today announced that it has raised $1.3 million in seed funding from MSA Capital, Oman Technology Fund (OTF), EquiTrust (Choueiri Group Investment), with participation from 500 Startups among other strategic investors.
Founded by Mahmoud Ibrahim and Ibrahim Mohamed, Homzmart is an e-commerce marketplace that connects home furnishing manufacturers and vendors with customers, selling furniture online. Both founders have a significant e-commerce background. Mahmoud started his ecommerce career with Rocket Internet’s Jumia in 2012 as VP Operations and then went on to build Daraz, the leading e-commerce platform of South Asia as Group COO when the company was acquired by Alibaba. Ibrahim also started with Jumia heading its logistics development and expansion for the last 5 years before founding Homzmart with Mahmoud.
Homzmart aims to focus on the home furnishing sector in MENA region. The platform showcases different designs to help customers personalize their ideas and vision for their home, and bring it to a reality, a feature the founders see as an important part of the furniture purchasing decision.