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Tuesday, 4 February 2020

Online furniture marketplace Homzmart raises USD 1.3 mn in seed round funding

STARTUP WATCH- Online furniture marketplace Homzmart has raised USD 1.3 mn in seed round funding from China’s MSA Capital, the Oman Technology Fund (OTF), and Choueiri Group’s Equitrust, reports Menabytes. The B2C ecommerce platform, founded last year by former Jumia execs Mahmoud Ibrahim and Ibrahim Mohamed, will use the funding to expand its team and develop the company’s tech infrastructure. Homzmart aims to capture a slice of what Mahmoud estimates is a USD 60 bn regional market for furniture by connecting suppliers directly to consumers.

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