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twist procurance is highly fragmented , manual , and unintelligible , forcing contractor to beguile multiple supplier , endure drawn-out talks , and deal with delayed payments . In Saudi Arabia , where trillion - dollar infrastructure and real estate projection are underway , these inefficiencies are even more marked .
To address this , BRKZ , a Riyadh - base construction technical school inauguration , put up a technical school - enabled managed marketplace that streamlines procurement and allow tailored financing solutions . The company has raised $ 9 million ( $ 8 million in fairness and $ 1 million in debt ) , bringing its total Series A funding to $ 17 million , with investors doubling down .
be investors , including Aramco ’s Wa’ed , BECO Capital , Better Tomorrow Ventures , Class 5 Global , Fluent Ventures , Knollwood Investment Advisory , MISY Ventures , RZM Investment , and 9900 Capital re - participate .
This follows the$8 million Series A1 roundBRKZ announced last March .
Ibrahim Manna , a former executive at Uber subsidiary Careem , found BRKZ in 2023 after experience these challenge firsthand .
“ After Careem ’s exit to Uber , I bought a family star sign in May 2020 and look the inefficiencies of the construction supply chain — want of visibility in textile selection , dubiety around the whereabouts of goods , and price volatility , ” Manna told TechCrunch . “ That defeat made me pull in how superannuated the diligence is and that it presented a huge chance deserving exploring . ”
Sourcing construction materials
Manna says he met with over 100 suppliers and contractors across the UAE , Saudi Arabia , and Pakistan to get a clear picture of construction procurance challenges in the region . He found that while the market was broken everywhere , Saudi Arabia stood out as the most enormous opportunity , fuel by the land ’s Vision 2030 and secure market place tailwinds .
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On BRKZ , contractile organ and factories can procure essential building materials like cement , steel , and wood . They benefit from transparent pricing , private-enterprise quotes in just 20 minutes , and buy now , pay late financing , while mill can source raw material and expand their customer base .
likewise , the platform cuts through the usual hurdles of high-pitched DoT costs and coordination consequence across region . Over the preceding year , BRKZ has grown from 1,200 SKUs and 350 suppliers to over 7,000 SKUs and 1,100 suppliers . Since its Series A1 , revenue has quadrupled in 2024 , with more than 850 contractors and mill using BRKZ for major project like King Salman Park , Neom , and the Red Sea Project .
BRKZ has aggressively dilate into over 40 cities across Saudi Arabia ’s key , Eastern , and Western province , boosting its RFQ volume from $ 170 million last March to $ 350 million ( SAR 1.3 billion ) today . The mental synthesis technical school troupe stand for to extend its reach to the Second Earl of Guilford and south province , Manna mark .
Diversifying revenues
To stick ahead of the curve , BRKZ will be looking to diversify its gross stream , which it currently bring forth through dealings fee and funding solutions , include buy now , devote later and cut credit offering .
Manna says that while BRKZ exercise with contractors , it want to start dealing with developers and provider , a readiness of customer with dissimilar motivation , textile , and pricing models , which demand a liberal range of sourcing option . The company plans to start importing hard - to - source construction materials right away from worldwide markets , starting with China this year and later India and Turkey to meet this develop need in the country .
“ We ’re quite worked up about building or enabling a corridor of trade between China and Saudi as we commence importing goods we know our contractile organ , suppliers , and others would like to get from China . If material are needed outside of Saudi , we ’ll get them , white label these goods , and sell them to contractors , developer , and suppliers in Saudi . Our focus is to go deeper into Saudi Arabia , ” he shared . Thismarks a shiftfrom BRKZ ’s earlier ambitions to exposit across the MENA area .
Notably , the move aligns with China ’s cause to strengthen ties with Middle Eastern food market amid uncertainty around U.S. deal policies . give Saudi Arabia ’s construction bonanza and China ’s significant role in mega - projects like NEOM and The Line , BRKZ ’s signification strategy could benefit from government - layer trade incentives and funding raft between the two nation .
Full-service construction ecosystem
Beyond materials , BRKZ aims to become a full - service construction ecosystem by addressing four pillars of any task : procural ( its meat business today ) , financing ( BNPL and credit solution ) , workforce provision , and equipment procurement / rental . Manna , who was the contend theater director of globose market at Careem , tell expound into workforce and equipment service will make BRKZ an end - to - end political platform for contractile organ and developers .
In gain , an crucial focal point product - heady will be leveraging AI and machine learning to automatise pricing predictability , purchase order generation , and other internal operation , ameliorate efficiency for the party as well as contractor and suppliers .
The freshly fire capital will put the company on its elbow room to becoming that comprehensive procurement hub it see , alongside driving enlargement into Saudi Arabia .
“ The BRKZ team has executed its product and operational roadmap to drive efficiencies in this rapidly scale sphere , and we ’re excited to preserve supporting them in their next chapter . BRKZ ’s financing product will complement their digitized procurance weapons platform and reference client cash menstruation challenges , ” said Dany Farha , co - founder and managing partner at BECO Capital .
Since launching two years ago , BRKZ has raised $ 22.5 million , including $ 5.5 million from pre - seed and seed round of golf . Manna says the company ’s rating has grown by 46 % in the past year , reflecting 4x class - over - year revenue growing with convinced unit political economy .
