The Egyptian furniture start-up Ariika, active in the field of furniture, managed to raise 3 million USD in equity through a Series A round. The operation was led by Beltone Venture Capital, a subsidiary of Beltone Financial Holding, and supported by the Emirati investment group, Citadel International Holdings

This financing marks an important step in Ariika's ambitious regional expansion strategy, which plans to launch in Saudi Arabia by early 2025 after successfully entering the Iraqi market earlier this year.

Ariika has achieved a compound annual growth rate (CAGR) of 90% since its inception, serving over 1 million customers worldwide and generating 15% of its revenue through exports. The startup also collaborates with major real estate developers in the region, strengthening its reputation as a design-oriented and customer-focused brand.

The $3 million raised in the latest funding round will be used to strengthen Ariika's market penetration in Iraq and Saudi Arabia, markets that are expected to represent half of the company's consolidated business by 2025. Ariika's flagship store in Baghdad has already capitalized on Iraq's booming consumer market, while it is scheduled to enter Saudi Arabia in

“This funding underscores our commitment to driving sustainable and profitable growth while providing an unparalleled customer experience,” said Khaled Attallah, CEO and co-founder of Ariika. “Our vision is to become the leading home decor brand in the MENA region with a focus on quality, innovation, and meaningful customer relationships.

This investment also underscores the broader goals of Beltone Venture Capital and its recent partnership with CI Venture Capital, a subsidiary of Citadel International Holdings, a subsidiary of Citadel International Holdings based in the United Arab Emirates. In April, the two entities launched a $30 million fund to support startups in the Middle East and North Africa.