(Ecofin Agency) - Homzmart, the Egyptian platform that connects furniture makers with potential buyers has closed a $15 million Series A financing to expand activities in the MENA region. The fundraising deal was led by MSA Capital and Nuwa Capital.

"Market opportunity in the region is huge and our business model is perfectly set up for it. Homzmart provides a simple one-stop platform to transform the experience of furniture sellers and consumers, and we are very excited about our next stage of growth," said Mahmoud Ibrahim, co-founder of Homzmart.

Last year, the company raised $1.3 million from several investors including MSA Capital. Speaking in early 2020 about the online furniture sales opportunities in Egypt, Mahmoud Ibrahim said the market was valued at more than $60 billion, with 25 million people in the Middle East and North Africa (Mena) area looking for home furnishings each month.