Egyptian ecommerce platform Homzmart raises $1.3m

Egyptian startup Homzmart has raised $1.3-million from a number of investors.

MenaBytes reported on Monday (3 February) in an article that the Cairo-based startup, which runs a furniture marketplace, raised the money from China’s MSA Capital, the Oman Technology Fund (OTF), and Choueiri Group’s investment arm Equitrust.

In addition, the publication said 500 Startups and a number of other investors also took part in the round.

Homzmart was founded by Mahmoud Ibrahim and Ibrahim Mohamed

According to MenaBytes, the round is one of the largest seed rounds raised thus far by an Egyptian startup.

The startup connects furniture manufacturers and vendors with customers and was founded in June last year by former Jumia Egypt vice president of operations Mahmoud Ibrahim and Ibrahim Mohamed, who also formerly worked at Jumia.

Featured image: Homzmart via Facebook