Saudi Construction Tech Firm BRKZ Secures $8M in Series A Funding
- ByStartupStory | March 7, 2024
BRKZ, a leading Saudi-based company, has successfully raised $8 million in a Series A funding round. This funding effort was co-led by 9900 and BECO Capital, with notable participation from Wa’ed Ventures, Knollwood Investment Advisory, RZM Investment, and MISY Ventures, according to Wamda.
BRKZ, founded in 2022 by Ibrahim Manna, has emerged as a key player in the B2B construction tech landscape. The company offers an extensive range of suppliers and materials, coupled with multiple delivery and payment options. BRKZ utilizes cutting-edge technology to ensure fair market prices for all contractors, with a particular focus on digitizing the buying and selling of building materials, promoting transparency, and enhancing efficient contractor financing.
Ibrahim Manna, Founder of BRKZ, expressed his enthusiasm about the recent investment, stating, “The investment underscores BRKZ’s commitment to digitising buying and selling building materials, promoting transparency, and fostering efficient contractor financing. It comes at a pivotal moment for BRKZ, enabling us to grow further within the $100 billion construction market here in KSA. We’re set to drive significant change through technology across every single touchpoint relevant to how building materials are sourced and supplied in a sector crucial to our economic landscape.”
BRKZ plans to utilize the newly acquired funds to expand its presence not only in Saudi Arabia but also beyond, with a vision to become a comprehensive solution provider in the construction industry. The startup has already facilitated over $170 million in quotations across 1,200 products from more than 350 suppliers, showcasing its impact on the market.
The company’s innovative approach includes a simplified portal for suppliers to customize prices based on size, location, and delivery options. Buyers benefit from access to the best prices for building materials, various suppliers, and materials, along with multiple delivery and payment options. BRKZ also streamlines the quoting process through quick quote requests via WhatsApp or the website.
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