Egyptian digital-led home and décor brand ariika has announced a successful $3 million Series A extension round, led by Beltone Venture Capital, a subsidiary of Beltone Financial Holding, alongside Citadel International Holdings. This latest funding is aimed at scaling ariika’s operations regionally, with a strategic focus on Saudi Arabia and Iraq, as the company solidifies its position as a leading player in the $20 billion MENA home and décor market.
Founded in 2016 by Khaled Attallah and Shahir Arslan, ariika has built a reputation for its innovative, direct-to-consumer approach in home furnishings. The company manufactures and sells a diverse range of products, including bean bags, pet beds, and travel comfort items. With a compound annual growth rate (CAGR) of 90%, ariika has served over one million customers globally and completed thousands of projects in collaboration with top real estate developers.
This Series A extension builds on a prior funding round secured in 2023, during which Beltone Venture Capital acquired a 20% stake in the company. The additional funding will be instrumental in significantly boosting ariika’s expansion strategy, including the launch of its first Saudi Arabian flagship store by January 2025. Moreover, this move follows its recent entry into the Baghdad market, where it opened a store to tap into Iraq’s growing demand for home furnishings. Combined, these markets are expected to generate 50% of Ariika’s revenue by 2025.
“Our relentless focus on compelling products, customer service, and profitable growth continues to drive our success,” said Khaled Attallah, CEO and co-founder of ariika. “This latest investment underscores our vision to innovate, connect deeply with our customers, and deliver superior online and offline experiences. With strong support from our partners, we are excited to accelerate our regional dominance and lead the transformation of the home and décor market across MENA.”
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Furthermore, the MENA home and décor sector, growing at an annual rate of 10%, presents significant opportunities for ariika’s digital-first model. The brand’s emphasis on customer-centric innovation and operational excellence has enabled it to outperform competitors, boasting over 3x year-over-year sales growth and expanding its export division to account for over 15% of its revenue.
Ali Mokhtar, CEO of Beltone Venture Capital, commended ariika’s achievements: “ariika’s exceptional growth trajectory and visionary leadership position it as a standout in the MENA home furnishings market. With bold expansion plans and a commitment to innovation, the company is well on its way to becoming the region’s premier home décor brand.”
Finally, as ariika accelerates its growth across the MENA region, it aims to redefine the future of home furnishings through its cutting-edge designs, seamless e-commerce platform, and robust customer engagement strategies. With this fresh injection of capital, Ariika is ready to take the lead in the regional home décor industry. These markets will power 50% of Ariika’s revenue by 2025.
