Building purchases are very fragmented, manually, and mysterious, forcing contractors to reconcile many suppliers, carry long negotiations, and deal with late payments. In the Kingdom of Saudi Arabia, where these projects are taking place in infrastructure and real estate projects trillion dollars, this efficiency is more clear.
To address this, BrkzIt is a start -up start -up company that is based in RIYADH, which offers a technology -making market that serves purchases and provides designed financing solutions. The company raised 9 million dollars ($ 8 million in shares and $ 1 million of debt), which raised a total of the series A to 17 million dollars, while doubling investors.
Current investors, including Aramco’s Weed, Beco Capital, Better Tomorow Ventures, Class 5 Global, Fluent Ventures, Knollwood Investment Advisory, Misy Ventures, Rzm Investment and 9900 capital.
This is followed by the BRKz series of the A1 A1 series, which is worth $ 8 million last March.
Ibrahim ManaCareem’s former executive, BRKZ founded in 2023 immediately after facing these challenges.
“After Careem’s exit to Uber, I bought a family home in May 2020 and faced shortcomings in the construction supply chain – to high visibility in the selection of materials, and uncertainty about where the goods are, and the fluctuation of prices,” said Manna Techcrunch. “This frustration made me realize how long have it made a long time in the industry and that it gave a great opportunity worth exploring.”
Building material sources
He says from us that he met with more than 100 suppliers and contractors throughout the United Arab Emirates, Saudi Arabia and Pakistan to obtain a clear picture of construction purchases in the region. It was found that while the market was broken everywhere, the Kingdom of Saudi Arabia emerged as the most huge opportunities, which are fueled by the country’s 2030 vision and the strong one in the market.
On BRKZ, contractors and factories can buy basic building materials such as cement, steel and wood. It takes advantage of transparent prices, competitive quotes in only 20 minutes, buying now, and paying financing later, while factories can source of raw materials and expand their customer base.
Likewise, the platform intersects with the usual obstacles to high transport costs and coordination issues in the regions. Over the past year, BRKZ has grown from 1200 SKU, 350 resources to more than 7000 SKU and 1100 Moore. Since the A1 series, revenues have fallen in 2024, with more than 850 contractors and factories using BRKz for major projects such as King Salman Park, Neom and Red Sea Project.
BRKZ has expanded more than 40 cities throughout the central, eastern and western provinces in the Kingdom of Saudi Arabia, which strengthened its size from RFQ from $ 170 million last March to 350 million dollars (1.3 billion SAR). We indicated that the technology company in the field of construction intends to expand its arrival in northern and southern provinces.
Diversification of revenues
To stay at the top of the curve, BRKZ will look forward to diversifying its revenue flows, which are currently created through transactions and financing solutions, including now purchase, and paying credit offers later designed.
Manana says that although BRKZ works with contractors, he wants to start dealing with developers and suppliers, and a group of customers with different needs, materials and pricing models, which require a wide range of resource options. The company plans to start importing hard -to -reach building materials from global markets, starting from China this year and then India and Turkey to meet this growing demand in the country.
“We are very excited to build or empower the trade corridor between China and Saudi Arabia and we start importing the goods that we know our contractors, our suppliers and other China. If materials are needed outside Saudi Arabia, we will get them, naming these goods, selling them to contractors, developers and suppliers in Saudi Arabia. Our focus on depth in the Kingdom of Saudi Arabia. This represents a shift from BRKz’s previous ambitions to expand in the Middle East and North Africa.
It is worth noting that this step is in line with China’s efforts to enhance relations with the Middle East markets amid uncertainty about American commercial policies. Given the construction boom in Saudi Arabia and the important role of China in huge projects such as NEOM and calligraphy, the BRKZ import strategy can benefit from government incentives at the government level and financing deals between the two countries.
The full construction system for the service
Besides the materials, BRKZ aims to become an environmental, integrated construction system by processing four columns of any project: purchases (its basic business today), financing (BNPL and Credit Solutions), and the supply of the workforce, and the purchase of equipment/rent. Mona, who was the administrative director of global markets at Careem, says that the expansion of workforce services and equipment will make BRKz a comprehensive platform for contractors and developers.
In addition, it will be important for one of the focus in the field of focus in the AI and machine learning to automate the possibility of pricing, generating purchase orders and other internal operations, and improving the efficiency of the company, contractors and suppliers.
The newly raised capital will be placed on its way until it becomes the comprehensive purchasing center it is imagining, in addition to expanding the leadership in the Kingdom of Saudi Arabia.
“The BRKZ team has implemented its way and operational products to push efficiency in this rapid scaling sector, and we are excited to continue their support in the next chapter. Danny Farha, co -founder and administrative partner of BECO CAPITAL, said the BRKZ financing product will complete the digital purchasing platform and deal with flow challenges Criticism for customers.
Since its launch two years ago, BRKZ raised $ 22.5 million, including $ 5.5 million of pre -seeds and seeds. Manana says that the company’s evaluation grew by 46 % in the past year, which reflects the growth of revenue on an annual basis on an annual basis with the economies of positive unity.
