Riyadh - Sharikat Mubasher: Ariika, a leading direct-to-consumer, digital-led home and décor brand based in Egypt, secured $3 million in a series A extension round led by Beltone Venture Capital and UAE-based Citadel International Holdings.
The proceeds will fuel Ariika’s plans to expand its product portfolio, solidify its presence in Saudi Arabia and Iraq, and develop go-to-market strategies, the company announced in a statement.
This round represents a milestone in Ariika’s mission to redefine the home décor industry by creating modern designs and offering customers a seamless online and in-store experience.
Ariika has already launched its store in Baghdad and is gearing up to open a new store in Saudi Arabia in early 2025.
Khaled Attallah, Co-founder and CEO of Ariika, said: “With our relentless focus on compelling products, customer service, and profitable growth, we continue to outperform our peers, gain market share, and distinguish ourselves as one of the fastest-growing digital-first, design-led home brands in the region.”
On his part, Ali Mokhtar, CEO of Beltone Venture Capital, commented: “Ariika has emerged as a standout company in a thriving sector, showcasing impressive operational results. With bold expansion plans, Ariika is strategically positioned to become the leading home furnishings brand in MENA.”
Since its launch in 2016, Ariika has achieved an annual growth rate of 90%, serving one million customers worldwide. It operates in a market worth $20 billion and introduces a superior product selection and competitive pricing.
