Egypt’s Homzmart Raises USD 23 Mn Pre-Series B Round

Egypt-based furniture and home supplies marketplace Homzmart has raised a USD 23 Mn pre-Series B round from STV, Impact46, Outliers Ventures, Rise Capital, and NUWA Capital. The startup plans to use the new capital to continue market expansion and product development as well as improve its logistics operations.

Homzmart enables furniture suppliers and retailers to connect directly with consumers and transact through multiple payment solutions. Its platform and end-to-end solutions benefit both retailers, such as IKEA and Home Centre, by making it easier for them to reach customers and shoppers, who benefit from a hassle-free, one-stop-shop shopping experience and more convenient financing choices.