BRKZ closes $17M Series A to transform construction procurement as Saudi Arabia's $3T project pipeline accelerates

BRKZ, a leading B2B managed marketplace for construction materials with embedded financing, has successfully closed its Series A funding to meet the growing demand for efficient construction procurement and financing in Saudi Arabia.

/EIN News/ -- Riyadh, Feb. 10, 2025 (GLOBE NEWSWIRE) -- While the MENA region drives forward with $3 trillion in infrastructure and building projects, construction companies face a critical challenge: fragmented supply chains and inefficient procurement processes that delay projects and inflate costs. Today, BRKZ announced it has completed its Series A funding at $17M, bringing total funding to $22.5M, to scale its technology platform that's revolutionizing how contractors source and purchase building materials.

The funding includes an $8M Series A2 round closed in January 2025, complemented by $1M in venture debt from Capifly, following the initial $8M Series A1 round from December 2023. All existing investors strongly recommitted, including BECO Capital, Aramco’s Waed, 9900 Capital, Better Tomorrow Ventures, RZM Investment, Class 5 Global, MISY Ventures, Knollwood Investment Advisory, and Fluent Ventures.

Founded in 2023 by Ibrahim Manna, serial entrepreneur and former Managing Director at Careem, BRKZ emerged from firsthand experience with construction industry inefficiencies. "Traditional procurement in construction is highly fragmented and manual, often requiring contractors to juggle multiple suppliers, long negotiations, and delayed payments," said Ibrahim Manna, Founder and CEO of BRKZ. "This funding will help us double down on tech development, enhance our BNPL offering aligned with construction cash flow cycles, and expand into cross-border trading."

The BRKZ team.

Unlike traditional procurement methods, BRKZ's platform combines a tech-enabled marketplace with embedded financing solutions, transforming how contractors and suppliers interact. Through its digital platform, contractors can access over 7,000 SKUs from more than 1,100 local suppliers, receiving competitive quotes within 20 minutes. The platform's built-in financing options align with construction cash flow cycles, addressing a critical pain point in the industry.

The platform's rapid adoption validates its approach. Since launching its Series A1, BRKZ has grown revenue fourfold during 2024, now serving more than 850 unique contractors and factories across flagship projects like King Salman Park, Neom, and Red Sea. The company has expanded its delivery network to over 40 cities across Saudi Arabia, with offices in three major regions, while processing $350m (SAR 1.3 billion) in RFQs through its platform.

BRKZ marketplace and app.

Real-world applications demonstrate the platform's transformative impact. A contractor working in KSA's central region, awarded a project in the Western Region, used BRKZ to price and procure materials from local suppliers despite having no team in the project location. Similarly, a local cement block factory broke traditional geographical constraints by listing on BRKZ, expanding its customer base while sourcing raw materials through the platform.

AbdulRauf H. Al-Matar, AGM at AlRashed Building Materials commented: "Partnering with BRKZ has revolutionized how we connect with contractors and streamline our operations. Their innovative approach to digitizing the construction industry is setting a new standard for efficiency and growth."

Tamer Salah, CEO at AlMimar AlAraby for General Contracting added: “Working with BRKZ has been a game-changer for us. Their focus on understanding contractors' needs and delivering tailored solutions has made it easier to meet tight deadlines and exceed customer expectations. BRKZ's highly advanced technology provides the best e-commerce platform, which makes it easy to manage my orders and get automated updates on their status.”

The construction market in MENA represents a massive opportunity, driven by mega-projects reshaping the region. Major developments like Neom, The Red Sea Project, King Salman Park, and upcoming events like Expo 2030 and FIFA World Cup in Saudi Arabia underscore the urgent need for innovative, tech-driven solutions to streamline procurement and enhance efficiency.

Dany Farha, co-founder and managing partner at BECO Capital, commented: “The construction industry is foundational to the Kingdom's Vision 2030, and is ripe for technology and organizational optimization. The BRKZ team has executed its product and operational roadmap to drive efficiencies in this rapidly scaling sector, and we’re excited to continue supporting them in their next chapter. BRKZ's financing product will complement their digitized procurement platform and address customer cash flow challenges. Having known Ibrahim and the team for years, we’ve seen firsthand their agility, prudence, and unique skill set that enable them to fulfill their promise of digitizing this industry.”

Looking ahead, BRKZ plans to establish offices in Saudi Arabia's Northern and Southern regions during 2025 while expanding its supplier network into global markets, focusing on China and India. The company will continue enhancing its technology platform and financing solutions, positioning itself as the comprehensive solution for construction procurement in the MENA region.

Ends 

Media images can be found here.

About BRKZ

BRKZ is a B2B managed marketplace transforming construction procurement in Saudi Arabia. By connecting contractors with suppliers through a tech-enabled platform, BRKZ provides access to thousands of SKUs, competitive pricing, and tailored financing solutions. With a focus on efficiency and transparency, BRKZ empowers MENA’s construction sector to meet the ambitious goals. For more information please visit https://brkz.com/en 

About BECO Capital

BECO Capital is the largest non-government venture capital firm in the Gulf, managing over $500 million in AUM. Since its inception in 2012, BECO Capital has played a pivotal role in developing the regional tech ecosystem, helping it grow from its nascent stages to its current dynamism, and has been a notable investor behind many of the region’s success stories. These include Careem, the region’s ride-hailing service turned super-app, acquired by Uber for $3.1 billion, and Property Finder, the real estate marketplace that BECO exited at a $1 billion valuation in April 2024, alongside other prominent startups such as Kitopi and Fresha.

For further information please contact the BRKZ press office: Bilal Mahmood on b.mahmood@stockwoodstrategy.com or +44 (0) 771 400 7257
                    
                    About BRKZ