The supply of construction is very fragmented, manual and opaque, forcing entrepreneurs to juggle several suppliers, to undergo long negotiations and to deal with delayed payments. In Saudi Arabia, where infrastructure and real estate projects of billions of dollars are underway, these ineffectiveness are even more pronounced.
To remedy it, BrkzA startup of construction technology based in Riyadh, offers a market managed by technology that rationalizes purchases and provides tailor -made financing solutions. The company has raised $ 9 million ($ 8 million in equity and $ 1 million in debts), bringing its TOTAL Funding in series A to $ 17 million, dubbing investors.
Existing investors, notably Waed, Beco Capital of Aramco, Best Tomorrow Ventures, Class 5 Global, Fluent Ventures, Knollwood Investment Advisory, Misy Ventures, Rzm Investment and 9900 Capital Re-Participation.
This follows the A1 series of $ 8 million announced BRKZ announced last March.
Ibrahim mannaAn old manner of the Uber Careem subsidiary, founded BRKZ in 2023 after meeting these first -hand challenges.
“After the release of Careem in Uber, I bought a family home in May 2020 and faced the ineffectures of the construction chain – visibility in the selection of materials, uncertainty around The location of goods and price volatility, “Manna told Techcrunch. “This frustration made me realize how obsolete the industry is and that it has presented an enormous opportunity to explore.”
Supply building materials
Manna says he has met more than 100 suppliers and entrepreneurs of water, Saudi Arabia and Pakistan to obtain a clear image of the challenges of construction in the region. He found that even if the market was broken everywhere, Saudi Arabia stood out as the most enormous opportunity, fueled by the country’s 2030 vision and the rear winds of the market.
On BRKZ, entrepreneurs and factories can obtain essential building materials such as cement, steel and wood. They benefit from transparent pricing, competitive quotes in just 20 minutes and are now buying, pay for subsequent funding, while factories can obtain raw materials and extend their customers.
Likewise, the platform reduces the usual obstacles to high transport costs and coordination problems between regions. In the past year, BRKZ has gone from 1,200 SKU and 350 suppliers to more than 7,000 SKU and 1,100 suppliers. Since its A1 series, income has been quadrupled in 2024, with more than 850 entrepreneurs and factories using BRKZ for major projects like King Salman Park, Neom and the Red Sea project.
BRKZ has grown to more than 40 cities in the central, eastern and Western provinces of Saudi Arabia, passing its RFQ volume from $ 170 million last March to $ 350 million (Sar 1.3 billion) Today. The construction technology company intends to extend its scope in the northern and southern provinces, noted Manna.
Diversification of income
To stay ahead of the curve, BRKZ will seek to diversify its sources of income, which it currently generates through transaction costs and financing solutions, including buying now, pay later and suitable credit offers.
Manna says that although BRKZ works with entrepreneurs, he wants to start dealing with developers and suppliers, a set of customers with different needs, materials and price models, which require a wider range of options ‘supply. The company plans to start importing difficult construction materials directly from the world markets, starting with China this year and later in India and Turkey to meet this growing demand in the country.
“We are very delighted to build or allow a commercial corridor between China and Saudi Arabia while we start to import goods that we know of our entrepreneurs, our suppliers and others would like to obtain from China. If materials are necessary outside of Saudi Arabia, we will obtain them, whites label these goods and sell them to entrepreneurs, developers and suppliers in Saudi. Our goal is to go further in Saudi Arabia, ”he shared. This marks a change in relation to the previous ambitions of BRKZ to develop in the MENA region.
In particular, the decision is aligned with the efforts of China to strengthen links with the markets of the Middle East in the uncertainty of American trade policies. Given the boom for the construction of Saudi Arabia and the important role of China in megaprojets such as the Neom and the Line, the BRKZ import strategy could benefit from commercial incentives at government level and financing agreements Between the two nations.
Construction ecosystem in full service
Beyond the materials, BRKZ aims to become a full service construction ecosystem by addressing four pillars of any project: supply (its main activity today), financing (BNPL and credit solutions) , supply of labor and supply / rental of equipment. Manna, who was Director General of the World Careem markets, says that the expansion of work and equipment services will make BRKZ a end-to-end platform for entrepreneurs and developers.
In addition, important importance in terms of products will use AI and automatic learning to automate price predictability, generation of order orders and other internal processes, improving the efficiency of the company as well as entrepreneurs and suppliers.
The newly raised capital will put the company to the point of becoming this complete supply center which it envisages, in parallel with the expansion of expansion in Saudi Arabia.
“The BRKZ team has executed its roadmap for the product and the operation to generate efficiency gains in this sector at the rapid scale, and we are delighted to continue to support them in their next chapter. The BRKZ financing product will complete its digitized supply platform and will take up challenges in customer cash flows, ”said Dany Farha, co-founder and general partner at Becco Capital.
Since its launch two years ago, BRKZ has raised $ 22.5 million, including 5.5 million dollars in pre-series and seed sequences. Manna says that the company’s assessment has increased by 46% in the past year, reflecting income growth of 4 times on the other with a positive unit economy.
