Comprehensive exam

1
Strategic plan:

Introduction .......................................................................................................

1.1 Company
Overview .................................................................................................................................................
1.2 Business
Lines .........................................................................................................................................................
Mission & Vision...............................................................................
2.1
Vision ...................................................................................................................................................................
2.2 Mission
External Environment Analysis .......................................................................
3.1 PESTEL
Analysis .......................................................................................................................................................
3.1.1
Political .............................................................................................................................................................
3.1.2
Economical .......................................................................................................................................................
3.1.3
Social ...............................................................................................................................................................
3.1.4
Technological ...................................................................................................................................................
3.1.5
Legal .................................................................................................................................................................
3.2 Task Environment (Porter’s Five Forces
Model) .................................................................................................
3.2.1 Definition of Porter’s Five Forces
Model .........................................................................................................
3.2.2 Description of Porter’s Five Forces
Model .......................................................................................................
3.2.3 Competitive
Rivalry ........................................................................................................................................
3.2.4 Bargaining power of buyers
...........................................................................................................................
3.2.5 Bargaining power of suppliers
.......................................................................................................................
3.2.6 Threats of substitutes
....................................................................................................................................
3.2.7 Threats of new entries
...................................................................................................................................
3.3
EFAS ...................................................................................................................................................................
Internal Environment .....................................................................................
4.1 Value Chain Analysis
.................................................................................................................................................................

4.2 VRIO
ANALYSIS ......................................................................................................................................................
4.3 McKinsey 7S model

2
…………………………………………………………………………………………………………………..
4.4 IFAS
………………………………………………………………………………………………………………………
Strategic Factor Analysis ................................................................................
5.1
SFAS ...................................................................................................................................................................
5.2 Space
Matrix .....................................................................................................................................................
5.3 TOWS
Analysis ...................................................................................................................................................
Quantitative Strategic Planning ....................................................................
6.1 Q SPM ...............................................................................................................................

Business Plan

1-Executive Summary

2-Company Description

3-Market analysis

4- Organization and management

5-Service or product line

6-Marketing and sales

7-Financial projections

3
Introduction:
1.1 Company Overview:
Homzmart is an Egyptian e-commerce platform that sells furniture connecting furniture
manufacturers and sellers with furniture buyers across the mena region through their online
platform. Homzmart is a fast-growing startup their launch was founded in 2019 with 11-50
employees. Looking at the company’s headcount to at Q2 2022 Homzmart has around 330 full
time employees and still growing.
The platform showcases different furniture designs and products to help customers personalize
their own ideas and easily attain their visions, bringing them to reality. This way of showcasing
the designs is crucial for customers for choosing the best fit products that matches their vision.
Mahmoud Ibrahim and Mohamed Ibrahim are both Homzmart founders. Their vast experience
in managing e-commerce platforms has helped them to direct the startup to reach great
successes.
1.2 Business Lines:
Homzmart is an online market place that helps furniture manufactures and sellers to show case
their products which in place helps costumers reach theses sellers online without the need of
leaving the comfort of their couch. Furniture shopping id one of the most hectic and time-
consuming ordeal. Digitizing this process, which help customers choose, pay and get their
purchases delivered to their home.
Homzmart offers an e-commerce where Business-to-customer (B2C) transactions occur;
furniture manufacturers and sellers showcase their products and customers buy these products
online.

Vision & Mission

2.1 Vision
Mahmoud Ibrahim Homzart co-founder and CEO has mentioned in one of his interviews to
Zawya business journal that “Homzmart is aiming to liberalize access to the marketplace and
provide discoverability to the supply side, providing exposure to consumers who may have
otherwise never seen a particular merchant or supplier. We stand in between supply and
demand and facilitate the movement and the transaction in a convenient manner for both.”
2.2 Mission

Homzmart is aiming to create a one-stop shop, where all consumer segments can find all the
various furniture supply segments.

4
External Environment Analysis

3.1 PESTEL Analysis

3.1.1 Political factors:

Political factors are defined as the legal and regulatory parameters which the company have to
operate within. The political situation, direction and stability are major factors that should be
put into consideration by managers and directors in formulating the company’s strategy.

Homzmart is an Egyptian startup that was founded on 2019. In this period Egypt political
environment was stable with no major political changes. Also, Egyptian political figures have
shown a full support toward youth and startups. Laws that helped and facilitated the founding
of new startup companies and the Egyptian SMEs.

The direction taken by Egypt in giving startups and SMEs support has made Homzmart mission
easier.

5
3.1.2 Economic factors:

The economic factors have a vast influence on companies’ nature and direction as it affects,
availability of credit, purchasing power, interest rates, inflation rate and economic growth.

 The Availability of credit refers to the amount of money that can be borrowed at a given
time; it may affect organization ability to meet its liabilities, expenses, investment, and R
& D projects.
 Interest rate refers to cost of loaning money as firms are affected by higher interest
expenses, lower ROI and lower degree of expansion
 Inflation rate refers to increase in the general level of prices of products and services
over a specific period of time. Firms are affected by higher cost of operation, higher
wages paid to employees, and higher revenue.

The Egyptian market has been affected by the devaluation of the foreign currency in 2016.
Furthermore, the second wave of devaluation that occurred April 2022, causing an increase in
the prices of the raw material used in manufacturing. Although, Homzmart is an e-commerce
platform where furniture sellers and manufacturers showcase their product and customers will
buy their favorite pieces online, the devaluation in the foreign currency has caused a decreased
demand and a decrease in the purchase power parity.

3.1.3 Social Factors:

The social factors involve lifestyle, way of thinking and beliefs these social factors are acquired
through culture, demographic, religious, education and ethical conditions. The social factors
affect the way of thinking and attitude towards new products and ideas. This change in social
factors affect the demand towards these products.
In the last couple of years, the Egyptian market has faced a great change in the way of
perceiving the digital transformation. A lot of services have been transformed from the offline
shopping where the costumer had to go to the shop physically to online shopping where the
from the customer became more open to choose all his needs online from the comfort of his
couch.
This was shown in the 30x growth Homzmart has undergone in the past 3 years and the
increase in their sales and the strategies taken to expand through the mena region.

6
3.1.4 Technological factors:

The technological factor is the awareness of the technological changes and new technologies
introduced to into the industry and their ability to cope with it. Creative technological ideas and
adaptations has yielded a lot of new products, possibilities for manufacturing improvement and
better marketing techniques.
Technological break through can help companies expand and increase their revenues and
benefits in an exponential level. Companies that adopt new technological systems and ideas are
called market pioneers.
Homzmart has adopted a new idea of transforming furniture and home appliances market
place from being solely offline where costumers had to reach manufacturers and sellers in
person into a fully digitized platform where both the seller and the customer could meet online
and satisfy their needs.

3.1.5 Environmental factors:

The environmental factors refer to the relationship between the human and the ecological
system around them. Companies now are very keen regarding keeping the environmental clean
and following the green manufacturing process to keep the environment clean and not leaving
a high carbon footprint.
Homzmart being an e-commerce platform, it has been very low levels of carbon foot print.
Homzmart is considered a green company where they don’t have manufacturing process that
could affect the environment and the ecological system.

3.1.6: Legal Factors:

Legal factors could affect the company like company place, tax programs, copyrights and
patents. These factors could affect the company’s potential and growth if not taken into
consideration and carefully dealt with.
Homzmart might face problems with copyrights and similar designs with other furniture and
decor brands which may cause them liabilities.

7
3.2 Task Environment (Porter’s Five Forces Model):
3.2.1 Definition of Porter’s Five Forces Model

Task environment is also named porter’s five forces, it was named after it’s developer Michael E
porter.
Task environment model (porter’s five forces model) is regarded as one of the most highly
regarding strategic business model used by businesses to stay ahead of competitors.

3.2.2 Description of Porter’s Five Forces Model

Porter's Five Forces is a framework for analyzing a company's competitive environment. It
has five main factors that are assessed as follows; the number and power of a company's
competitive rivals, potential new market entrants, suppliers, customers, and substitute
products influence a company's profitability.

8
 3.2.3 Competitive Rivalry:

It is a crucial step in building a robust strategic plan is knowing your competitors and the way
they compete in the market, their supply, demand and their product prices.

Homzmart was founded by the year 2019, the idea behind homzmart is to provide an online
market place where sellers and manufacturers of furniture would be able to showcase their
products to customers online. This idea is considered a new idea for a startup in the Egyptian
market but on the other hands there are companies like Ikea and eklego design office where
they sell their products online. These are not direct competitors to Homzmart; as they design,
manufacture and sell their own products while homzmart only showcases manufacturers and
sellers their products so companies. Which means any of these companies can sell their
products directly through their showrooms, their online e-commerce pages or they can
showcase them through Homzmart platform.

3.2.4 Bargaining power of buyers

This refers to the ability of buyers and customers to force prices down also, their ability
demands more services and better-quality products for less. If the product sold by a company
has a high demand with low-differentiation this will give a high bargaining power to customers.

Homzmart is a service provider to both buyers and seller; where sellers can showcase their
products while buyers can easily find products they are searching for.

The customers bargaining power will not affect Homzmart in a direct way the effect will be
more direct on the manufacturers and sellers causing the price fluctuation.

3.2.5 Bargaining power of suppliers:

Suppliers provide the inputs or raw materials for business. Their bargaining power has a direct
impact on the company’s profit margins, as the price at which they sell inputs to business will
determine the selling prices of the finished products. Suppliers have a high bargaining power in
cases where they are few, there are no substitutes for supplies or when there is no unity
between buying companies.

Homzmart is a servicing platform where suppliers can sell their products from furniture and
home appliances online. Homzmart gains their revenues by taking a percentage from sellers for
the products they sell through their platform as a commission. Homzmart is mainly controlled

9
by the number of suppliers/ sellers are in contract with homzmart and the number of products
sold by them.

3.2.6 Threats of substitutes:

Substitute products give consumers the opportunity to choose alternatives based on price or
quality for a business to maintain superiority over rivals, it needs to invest more in developing
brand loyalty based on consumers’ preferences to stand out from other products in its
category.

Homzmart is considered a new type of business in this business category and there is no many
alternatives to the specialized service they are providing.

3.2.7 Threats of new entries:

If an industry has low barriers to entry, a business faces the risk of serious and unexpected
competition from new entrants, new entrants can introduce tactics like lower pricing and
aggressive marketing strategies in an effort to attract customers. New companies also can offer
suppliers better prices and terms so that they increase competition with existing players. High
entry barriers, such as customer loyalty, limited distribution channels and shortage of key
resources, may limit this competitive danger or having a high technological barrier.

Homzmart is a considered a new idea for a startup they have a fast-growing pace and they are
currently had an accusation on a German mockup studio where they are going to use the
technology to add a new innovative technology, homzmart will be able to use AI technology to
give them a real-life experience and expectation regarding their purchasing. Introducing this
technology will make new entries much harder.

10
3.3 External factors analysis summary (EFAS)

EFAS has two columns. The first is the weight column which is ranging from 0.0 (low
importance) to 1.0 (high importance). While the rating is ranging from 4 to 1, where 4 for
(superior response), 3 (above average response), 2 (average response) and 1 (poor response).

EFAS
Factors Weight Rating Weighted Score
Opportunities
Increasing the advertising revenue by enhancing
0.1 4 0.40
mobile based advertising and marketing

Expansion in the MENA region 0.12 3 0.36

Increase product varieties to serve all tastes and needs 0.05 3 0.15
by contracting more providers

Increasing the quality of the provided services 0.12 4 0.48

Improving the company’s courier and shipment

services to make sure products reach the clients the 0.08 4 0.32
soonest
Increasing in the technological advancement,
0.1 4 0.40
innovation, and technological knowledge.

Sub Total 0.57 2.11

Threats
Privacy Violation and Cybercrime 0.08 3 0.24

Restriction on import and decrease in raw material 0.07 4 0.28

Social barriers against digitization 0.06 2 0.12

Increasing internet regulation and online data 0.08 1 0.08

11
 Devaluation of the foreign currencies 0.04 2 0.08

Increasing digital taxes and tolls 0.05 2 0.01

Image and reputation crisis 0.05 3 0.15
Sub Total 0.43 0.96
Total 1 3.07

The company’s total score is 3.01 which is above average indicates that the company is in good
position to catch the opportunities and avoid the threats and reflect the company’s ability to
respond to the external factors.

12
Internal Environment:

4.1 Value Chain Analysis

Value chain for any company has two main activities that are analyzed; primary activities (client
facing) and support activities (non-client facing) that add value to its identity. These activities
can be analyzed to inform about the company activities and are used to reduce cost (Cost
Leadership) and/or increase differentiation (Competitive differentiation)

4.1.1 Primary Activities

 Inbound-Logistics

Since Homzmart is not involved in the process of products manufacturing, inbound-logistics is

one of the most crucial activities that influence Homzmart business model, as the company is
responsible for the distribution of hundreds of furniture manufacturers and seller on homzmart
platform all over Egypt. customers can purchase different furniture pieces, home appliances
and décor parts for their homes from different sellers across Egypt meaning that inbound
logistics is one of the crucial elements for homzmart to success is to deliver the furniture on

13
expected time in a good condition with no defects. Homzmart are strengthen their business
model by promising fast delivery and a quality delivery homzmart also have a strong return
policy which normally not available for furniture products.

 Operations:

Homzmart’s success is highly based on their operations team; they receive and manage orders,
collaborate and communicate with hundreds of sellers for their inventory and availability of
their products, packaging shipping, deliveries and costumer returns. Homzmart was able to
meticulously operate and shown a great success in operating all these takes which lead their
operations tripled between January 2021 to October 2021, which is a tremendous.

 Marketing & Sales:

Marketing and sales are used by Homzmart to further expand their growth. Homzmart entire
marketing strategy revolves around data analytics as homzmart uses digital marketing and
targeting advertising using the acquired data to reach their target audience and identify them in
order to enhance their sales. Homzmart are building also their market strategy around
keywords and logic-based advertising (If you’re looking for a luxurious comfy sofa then maybe
you need a coffee table). Homzmart invest a lot of money and time in their sales and digital
marketing departments.

 Services:

Homzmart core competence is being a service provider which serves both sellers and customers
resulting in well-established, benefitable and trustable business model for both seller and
clients. furthermore, Homzmart provided two services to their end user which are very useful
and attracts clients, installation services are provided for purchased products and cash on
delivery policy is also adapted which considered an unique service not present in the furniture
market.

 Out bound logistics:

In homzmart still there’s no outbound logistics but in the future sure there will outbound
logistic activities, especially after the announced expansion of Homzmart in Kingdom of Saudi
Arabia KSA .Moreover, Homzmart’s strategy is to expand regionally through the MENA region

14
and their current performance and observed growth shows that their regional expansion goal is
attainable.

4.1.2 Support Activities

 Infrastructure:

Since Homzmart is an e-commerce company, its infrastructure mainly relays on data servers,
communication channels, fiber optics, IT systems, clouds. Infrastructure also includes finance,
accounting, planning, and legal departments to make sure that the operation process is
handled smoothly.

 Human Resource Management:

The Human resource management is on the most crucial support activities. Homzmart human
resources department has invest heavily in developing and training their employees. Aside from
training, they’re also responsible recruiting, planning, and facilitating employees need.

 Technology Development:

The role of technology has grown dramatically over the last years that’s why Homzmart have
incorporated technology in all their processes.

 Procurement:

In Homzmart, Procurement is minimal as they don’t buy for example raw materials but they are
included in executing deals with sellers to be exhibited on their platform. So the procurement
team have to qualify the sellers for the best quality and price.

Conclusion:

Homzmart value chain analysis shows that they’re on the right track towards a tremendous
growth and a reginal expansion.

well-researched investment in labor development, digital marketing and data analytics results
in an exponential growth.

Technology and automation is the key to competitive differentiation.

15
4.2 VRIO Model (Value – Rarity – Imitability – Organization)

 VIRO model helps organization identifying the resources and capabilities that give them
a sustained competitive advantage.

 VIRO analysis is preferably conducted in the early stages of planning. The results of the
VRIO analysis will let organizations better decide on strategic plan and the best way for a
market approach.

 After applying VRIO analysis on Homzmart (table below), There are two main
competencies that Homzmart should capitalize on during future planning and
strategizing which are digitizing the whole process of furniture purchasing and interior
design also, providing huge variety of products showcased by sellers on one platform.

o Digitizing the furniture purchase and interior design: It’s a new concept which
belongs to MockUp Studio that was acquired by Homzmart as it gave them a
competitive edge not found in the market. The concept of designing your own
home starting from an empty space, choosing different layouts, furniture (with
measurements) and floorings with different sets from Homzmart’s catalog
assortment.

o Huge number of sellers and furniture manufacturers in one platform: The idea
behind Homzmart, the digitization of the furniture purchase which needed
customers to physically visit 4-5 places to buy their furniture. Homzmart has given

16
 its customer the opportunity to buy their furniture from dozens of sellers and
manufacturers from the comfort of their couch.
 The limitation of the VRIO analysis is that the modern world business markets
environment is constantly changing and what’s now an inimitable competitive
advantage could be tomorrow imitated and just be a competitive parity.

Resource/Competency Valuable Rare Inimitable Organization

Easy to access market place ✔ ✔ ✘ ✘ Temporary Competitive

advantage

Data Analytical ✔ ✔ ✘ ✘ Temporary Competitive

advantage

Digitizing the process of ✔ ✔ ✔ ✔ Sustainable Competitive

furniture purchase and advantage
interior design

Well-trained Employees ✔ ✘ ✘ ✘ Competitive Parity

Supply chain and logistics ✔ ✘ ✘ ✘ Competitive Parity

Cash on delivery policy ✔ ✔ ✘ ✘ Temporary Competitive

(Furniture Market) advantage

Huge number of sellers and ✔ ✔ ✔ ✔ Sustainable Competitive

manufacturers on one advantage
Platform

4.3 McKinsey 7S model

17
 McKinsey 7s model usually used and had a great benefit used to assist with mergers and
acquisitions. Therefore, it will be of help to apply this model on Homzmart as it acquired
Berlin-based technology company, MockUp Studio in March, 2022.

 As shown in the above figure, McKinsey7 model has 7 main internal factors of the
organization that help the company grrowth.

 The 7 main internal factors are composed of a mix:

o Hard Factors (Strategy – Structure – Systems):
These factors are mainly influenced by the top managements, and are straight forward
to change.
 Strategy: defined as the organization’s plan to win in the market
(Competitive Advantage). In case of Homzmart, it’s allowing consumers to
visualize their furnished home in minutes and digitizing the whole interior
design process.
 Structure: defined as how the company structure its resources and money, In
Homzmart, they’re investing heavily in employee’s development and
technology.
 Systems: defined asthe processes and daily activities that are undertaken by
the people of the company every day.

o Soft Factors (Skills – Staff – Style – Shared Values):

These factors which are influenced by the company’s culture, and are hard to change.
 Skills: are the abilities and skills of the company’s employees that the
organization capitalize upon.
 Staff: The employees of the organization and how they are developed and
grown. In Homzmart, is investing heavily in their employees.
18
  Style: It’s the organization’s environment and the culture of the organization.
 Shared Values: These are the core values of the organization that
interconnect all aspects of the organization.

4.4 Internal Factor Analysis Summary (IFAS)

IFAS has two columns. The first is the weight column which is ranging from 0.0 (low
importance) to 1.0 (high importance). While the rating is ranging from 4 to 1, where 4 for
(superior response), 3 (above average response), 2 (average response) and 1 (poor response).

IFAS
Factors Weight Rating Weighted Score
Strengths
Digital marketing and targeting advertising 0.15 4 0.6
Technology and digitalization 0.1 3 0.3
Employees development 0.05 3 0.15
Data analytics 0.1 3.5 0.35
Cash on delivery 0.09 4 0.36
Product installation 0.07 4 0.28
Sub Total 0.56 2.04
Weaknesses
Low number of contracts with furniture big brands 0.1 2 0.2

TV commercials 0.08 1 0.08

Platform integrity 0.06 2 0.12
Contracts with low-end furniture manufacturers 0.2 3 0.6
Sub Total 0.44 1
Total 1 3.04

The company’s total score is 3.04 which is above average indicates that the company is in good
position to capitalize on their strengths and face their weaknesses and reflect the company’s
ability to respond to the internal factors.

19
Business plan:

1.Executive summary:

Homzmart is an Egyptian startup founded in 2019 by Mahmoud Ibrahim and Ibrahim

Mohamed. The company is an e-commerce platform where furniture sellers and manufacturers
can showcase their products through the platform to easily reach their customers through a
fully digitalized process where the buyer do not need to leave the comfort of his couch to make
the buy. This business model has proven success due to the great social acceptance toward the
digitization and making all the purchasing transactions through digital platform, especially after
covid-19 pandemic which increased the acceptance of online shopping and using digital
platform in order to make all the essential and luxurious purchases.

Homzmart is no different from digital e-commerce platforms that shown great success in the
past years. Homzmart when founded acquired a seed fund in 2020 of $1.3 million The
investment was one of the largest seed round raised by an Egyptian startup came from China’s
MSA Capital, Oman Technology Fund (OTF), and Choueiri Group’s investment arm Equitrust.
500 Startups and some other strategic investors also joined the round.

During 2021 announced earning series A funding with the amount of $15 million from the
following investors and ventures: Rise Capital, Outliers Venture Capital, Nuwa Capital, MSA
Novo, Impact46 & EQ2 Ventures. Homzmart earning a series A funding shows great growth the
company undergone in the past two years and this has started the idea of regional expansion
announcing that homzmart will start their expansion plan by penetrating the Saudi Arabian
market. In 2022 Homzmart announced acquisition over the German mockup studios which will
use the AI technology which will be integrated into the platform where customers will be able
to utilize this technology to see in a full 3D how would their purchases look in real life.

2.Company description:

20
As shown previously Homzmart is an online e-commerce platform where furniture sellers and
manufacturers could show case their products for customers to by buy their products online
through the platform. In 3 years Homzmart was able to raise a series of funds from different
investors wracking up to $17.5 million. Furthermore, they announced that will start their
reginal expansion by penetrating the Saudi Arabian market. Also, they acquired the German
mock-up studio that will add the new options to the platform which will enable clients to have a
real image of the products they are buying.

Homzmart doesn’t produce its own products but theey make contracts with furniture
manufacturers, home décor and interior designers to showcase their products and services
through their platform. The platform gives a service for both sellers and buyers; the platform
makes it easier for the sellers and manufacturers to reach the buyer. Homzmart has invested in
data analytics which help them to know their costumers and their preferences. These data is
managed in digital marketing campaigns and targeted advertising to help customers reach
exactly what they are looking for.

Homzmart has a great competitive advantage regarding furniture sales as they showcase
products from hundred of producers who don’t have big physical shops where they have a
constant flow of buyers. Homzmart has given small and medium manufacturers the chance to
showcase their products and sell them online. Also, homzmart gives you the services their
clients by providing a team of skilled hands that help them with the installations of their newly
purchased products. Furthermore, Homzmart has introduced the concept of cash on delivery to
the furniture market.

3.Market analysis:

Homzmart being an e-commerce platform giving opportunity for furniture sellers and
manufacturers meeting their clients online through the platform in a fully digitalized way.
Homzmart doesn’t have direct competitors in Egypt with the same idea of showcasing sellers’
products, but some furniture brands have an uprunning platforms and website to sell their

21
products online. They are considered non-direct competitors but they will compete with
Homzmart on the same market share as they both compete in the same market of furniture.

4.Organization & management:

Homzmart was founded by Mahmoud Ibrahim and Ibrahim Mohamed. Both founders have
come from a solid background of e-commerce.

Mahmoud Ibrahim begain his ecommerce career with Rocket Internet’s Jumia in 2012 serving
Jumia Egypt as VP Operations and then went on to join Daraz, the leading ecommerce platform
of South Asia as a Managing Director for Pakistan. He was Daraz’s Group COO when the
company was acquired by Alibaba for an estimated $200 million. While Ibrahim Mohamed is
also a Jumia alumnus and used to lead company’s ‘logistics development and expansion’ in
Egypt.”

Homzmart started as a very small company with less 50 employees but now homzmart has
reached more than 330 full time employees

5.Services:

Homzmart is considered a servicing company as they don’t manufacture their own products but
they give a fully digitalized platform for manufacturers and seller to show their products and
sell them for a commission that is taken by Homzmart for providing the service.

22
6.Marketing and sales:

Homzmart marketing and sales totally done through digital platform. The process begins with
data analytics when client starts surfing through the platform their preferences and their needs
starting to figure each clients specific needs. After the data is acquired the backend engineers
formulate a specific code where the advertisings appear to the client searching will be specific
for very own needs.

This way Homzmart promotes their sales through digital marketing which shown to be very
effective as homzmart has shown 30x growth through the past year and started to expand
through the MENA region.

7.Financial projections

Homzmart in Feb 03, 2019 was awarded with $1.3 million as a seed fund from the following
investors EQ2 Ventures, MSA Capital and Oman Technology Fund. In this period Homzmart has
shown great progress and growth rate which made them eligible to competing for a series A
funding. In May 18,2021 Homzmart was awarded with Series A fund with the amount of $15
million from the following investors and ventures; EQ2 Ventures, Impact46, MSA Capital
(Lead), Nuwa Capital (Lead), Outliers Venture Capital and Rise Capital.

Refrences:

-https://enterprise.press/wp-content/uploads/2021/11/Homzmart-KSA-PR-251121.pdf

-https://www.gccbusinessnews.com/middle-easts-homzmart-acquires-berlin-based-tech-firm-
mockup/

-https://startuplist.africa/homzmart
23
-https://www.owler.com/company/homzmart/acquisitions

-https://www.crunchbase.com/funding_round/homzmart-series-a--eb38f2ee

-https://www.menabytes.com/homzmart-seed/

-https://www.zawya.com/en/business/interview-with-co-founder-and-ceo-of-homzmart-
gni97k8r

-https://www.gccbusinessnews.com/middle-easts-homzmart-acquires-berlin-based-tech-firm-
mockup/

-https://homzmart.com/en/content/about-us

-https://dailynewsegypt.com/2022/05/13/homzmart-begins-trading-between-egypt-saudi-
arabia-branches/

-https://www.investopedia.com/articles/personal-finance/102015/series-b-c-funding-what-it-
all-means-and-how-it-works.asp#:~:text=Seed%20funding%20is%20the%20first,analogy%20for
%20planting%20a%20tree.

24