{"id":652918,"date":"2025-02-10T08:15:16","date_gmt":"2025-02-10T05:15:16","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/saudis-brkz-closes-17m-series-a-for-its-construction-tech-platform\/"},"modified":"2025-02-10T08:15:16","modified_gmt":"2025-02-10T05:15:16","slug":"saudis-brkz-closes-17m-series-a-for-its-construction-tech-platform","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/saudis-brkz-closes-17m-series-a-for-its-construction-tech-platform\/","title":{"rendered":"#Saudi&#8217;s BRKZ closes $17M Series A for its construction tech platform"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a27247acbac7\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a27247acbac7\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/saudis-brkz-closes-17m-series-a-for-its-construction-tech-platform\/#Sourcing_construction_materials\" >Sourcing construction materials<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/saudis-brkz-closes-17m-series-a-for-its-construction-tech-platform\/#Diversifying_revenues\" >Diversifying revenues<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/saudis-brkz-closes-17m-series-a-for-its-construction-tech-platform\/#Full-service_construction_ecosystem\" >Full-service construction ecosystem<\/a><\/li><\/ul><\/nav><\/div>\n<div>\n<p id=\"speakable-summary\" class=\"wp-block-paragraph\">Construction procurement is highly fragmented, manual, and opaque, forcing contractors to juggle multiple suppliers, endure lengthy negotiations, and deal with delayed payments. In Saudi Arabia, where trillion-dollar infrastructure and real estate projects are underway, these inefficiencies are even more pronounced.<\/p>\n<p class=\"wp-block-paragraph\">To address this, <a rel=\"nofollow\" target=\"_blank\" rel=\"nofollow\" href=\"https:\/\/brkz.com\/\">BRKZ<\/a>, a Riyadh-based construction tech startup, offers a tech-enabled managed marketplace that streamlines procurement and provides tailored financing solutions. The company has raised $9 million ($8 million in equity and $1 million in debt), bringing its total <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/watch-movies-tv-seriess\/\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Watch Movies &amp; TV Series\" target=\"_blank\" rel=\"noopener\">Series<\/a> A funding to $17 million, with investors doubling down. <\/p>\n<p class=\"wp-block-paragraph\">Existing investors, including Aramco\u2019s Waed, BECO Capital, Better Tomorrow Ventures, Class 5 Global, Fluent Ventures, Knollwood Investment Advisory, MISY Ventures, RZM Investment and 9900 Capital re-participated.\u00a0<\/p>\n<p class=\"wp-block-paragraph\">This follows the $8 million Series A1 round BRKZ announced last March.<\/p>\n<p class=\"wp-block-paragraph\"><a rel=\"nofollow\" target=\"_blank\" rel=\"nofollow\" href=\"https:\/\/www.linkedin.com\/in\/ibrahimmanna?utm_source=share&amp;utm_campaign=share_via&amp;utm_content=profile&amp;utm_medium=android_app\">Ibrahim Manna<\/a>,\u00a0a former executive at Uber subsidiary Careem, founded BRKZ in 2023 after experiencing these challenges firsthand.<\/p>\n<p class=\"wp-block-paragraph\">\u201cAfter Careem\u2019s exit to Uber, I bought a family house in May 2020 and faced the inefficiencies of the construction supply chain\u2014lack of visibility in material selection, uncertainty around the whereabouts of goods, and price volatility,\u201d Manna told TechCrunch. \u201cThat frustration made me realize how outdated the industry is and that it presented a huge opportunity worth exploring.\u201d<\/p>\n<h2 class=\"wp-block-heading\" id=\"h-sourcing-construction-materials\"><span class=\"ez-toc-section\" id=\"Sourcing_construction_materials\"><\/span>Sourcing construction materials<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p class=\"wp-block-paragraph\">Manna says he met with over 100 suppliers and contractors across the UAE, Saudi Arabia, and Pakistan to get a clear picture of construction procurement challenges in the region. He found that while the market was broken everywhere, Saudi Arabia stood out as the most enormous opportunity, fueled by the country\u2019s Vision 2030 and strong market tailwinds.<\/p>\n<p class=\"wp-block-paragraph\">On BRKZ, contractors and factories can procure essential building materials like cement, steel, and wood. They benefit from transparent pricing, competitive quotes in just 20 minutes, and buy now, pay later financing, while factories can source raw materials and expand their customer base.<\/p>\n<figure class=\"wp-block-image aligncenter size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1083\" height=\"813\" src=\"https:\/\/techcrunch.com\/wp-content\/uploads\/2025\/02\/IMG_9678.jpeg?w=680\" alt=\"\" class=\"wp-image-2962808\" srcset=\"https:\/\/techcrunch.com\/wp-content\/uploads\/2025\/02\/IMG_9678.jpeg 1083w, https:\/\/techcrunch.com\/wp-content\/uploads\/2025\/02\/IMG_9678.jpeg?resize=150,113 150w, https:\/\/techcrunch.com\/wp-content\/uploads\/2025\/02\/IMG_9678.jpeg?resize=300,225 300w, https:\/\/techcrunch.com\/wp-content\/uploads\/2025\/02\/IMG_9678.jpeg?resize=768,577 768w, https:\/\/techcrunch.com\/wp-content\/uploads\/2025\/02\/IMG_9678.jpeg?resize=680,510 680w, https:\/\/techcrunch.com\/wp-content\/uploads\/2025\/02\/IMG_9678.jpeg?resize=430,323 430w, https:\/\/techcrunch.com\/wp-content\/uploads\/2025\/02\/IMG_9678.jpeg?resize=720,540 720w, https:\/\/techcrunch.com\/wp-content\/uploads\/2025\/02\/IMG_9678.jpeg?resize=900,676 900w, https:\/\/techcrunch.com\/wp-content\/uploads\/2025\/02\/IMG_9678.jpeg?resize=800,601 800w, https:\/\/techcrunch.com\/wp-content\/uploads\/2025\/02\/IMG_9678.jpeg?resize=668,501 668w, https:\/\/techcrunch.com\/wp-content\/uploads\/2025\/02\/IMG_9678.jpeg?resize=500,375 500w, https:\/\/techcrunch.com\/wp-content\/uploads\/2025\/02\/IMG_9678.jpeg?resize=822,617 822w, https:\/\/techcrunch.com\/wp-content\/uploads\/2025\/02\/IMG_9678.jpeg?resize=708,531 708w\" sizes=\"auto, (max-width: 1083px) 100vw, 1083px\"\/><figcaption class=\"wp-element-caption\"><span class=\"wp-element-caption__text\">A BRKZ CONSTRUCTION SITE<\/span><span class=\"wp-block-image__credits\"><strong>Image Credits:<\/strong>BRKZ<\/span><\/figcaption><\/figure>\n<p class=\"wp-block-paragraph\">Similarly, the platform cuts through the usual hurdles of high transportation costs and coordination issues across regions. Over the past 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 factories using BRKZ for major projects like King Salman Park, Neom, and the Red Sea Project. <\/p>\n<p class=\"wp-block-paragraph\">BRKZ has aggressively expanded into over 40 cities across Saudi Arabia\u2019s Central, Eastern, and Western provinces, boosting its RFQ volume from $170 million last March to $350 million (SAR 1.3 billion) today. The construction tech company intends to extend its reach to the North and South provinces, Manna noted. <\/p>\n<h2 class=\"wp-block-heading\" id=\"h-diversifying-revenues\"><span class=\"ez-toc-section\" id=\"Diversifying_revenues\"><\/span>Diversifying revenues<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p class=\"wp-block-paragraph\">To stay ahead of the curve, BRKZ will be looking to diversify its revenue streams, which it currently generates through transaction fees and financing solutions, including buy now, pay later and tailored credit offerings.<\/p>\n<p class=\"wp-block-paragraph\">Manna says that while BRKZ works with contractors, it wants to start dealing with developers and suppliers, a set of customers with different needs, materials, and pricing models, which require a broader range of sourcing options. The company plans to start importing hard-to-source construction materials directly from global markets, starting with China this year and later India and Turkey to meet this growing demand in the country.<\/p>\n<p class=\"wp-block-paragraph\">\u201cWe\u2019re quite excited about building or enabling a corridor of trade between China and Saudi as we start importing goods we know our contractors, suppliers and others would like to get from China. If materials are needed outside of Saudi, we\u2019ll get them, white label these goods, and sell them to contractors, developers, and suppliers in Saudi. Our focus is to go deeper into Saudi Arabia,\u201d he shared. This marks a shift from BRKZ\u2019s earlier ambitions to expand across the MENA region. <\/p>\n<p class=\"wp-block-paragraph\">Notably, the move aligns with China\u2019s efforts to strengthen ties with Middle Eastern markets amid uncertainty around U.S. trade policies. Given Saudi Arabia\u2019s construction boom and China\u2019s significant role in megaprojects like NEOM and The Line, BRKZ\u2019s import strategy could benefit from government-level trade incentives and financing deals between the two nations.<\/p>\n<h2 class=\"wp-block-heading\" id=\"h-full-service-construction-ecosystem\"><span class=\"ez-toc-section\" id=\"Full-service_construction_ecosystem\"><\/span>Full-service construction ecosystem <span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p class=\"wp-block-paragraph\">Beyond materials, BRKZ aims to become a full-service construction ecosystem by addressing four pillars of any project: procurement (its core business today), financing (BNPL and credit solutions), workforce supply, and equipment procurement\/rental. Manna, who was the managing director of global markets at Careem, says expanding into workforce and equipment services will make BRKZ an end-to-end platform for contractors and developers.<\/p>\n<p class=\"wp-block-paragraph\">In addition, an important focus product-wise will be leveraging AI and machine learning to automate pricing predictability, purchase order generation, and other internal processes, improving efficiency for the company as well as contractors and suppliers.\u00a0<\/p>\n<p class=\"wp-block-paragraph\">The newly raised capital will put the company on its way to becoming that comprehensive procurement hub it envisions, alongside driving expansion into Saudi Arabia. <\/p>\n<p class=\"wp-block-paragraph\">\u201cThe BRKZ team has executed its product and operational roadmap to drive efficiencies in this rapidly scaling sector, and we\u2019re excited to continue supporting them in their next chapter. BRKZ\u2019s financing product will complement their digitized procurement platform and address customer cash flow challenges,\u201d said Dany Farha, co-founder and managing partner at BECO Capital.<\/p>\n<p class=\"wp-block-paragraph\">Since launching two years ago, BRKZ has raised $22.5 million, including $5.5 million from pre-seed and seed rounds. Manna says the company\u2019s valuation has grown by 46% in the past year, reflecting 4x year-over-year revenue growth with positive unit economics.<\/p>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN63nwsw68G3Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more like this article, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/category\/technology\/\" target=\"_blank\" >Technology<\/a><\/span> category.<\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/techcrunch.com\/2025\/02\/09\/saudis-brkz-closes-17m-series-a-for-its-construction-tech-platform\/\" target=\"_blank\" >Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Construction procurement is highly fragmented, manual, and opaque, forcing contractors to juggle multiple suppliers, endure lengthy negotiations, and deal with delayed payments. In Saudi Arabia, where trillion-dollar infrastructure and real estate projects are underway, these inefficiencies are even more pronounced. To address this, BRKZ, a Riyadh-based construction tech startup, offers a tech-enabled managed marketplace that&#8230;<\/p>\n","protected":false},"author":1,"featured_media":652919,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/techcrunch.com\/wp-content\/uploads\/2025\/02\/fdbe9b20-4513-4e25-b9d8-6eca3cfe91ba.jpeg?resize=1200,810","fifu_image_alt":"","footnotes":""},"categories":[18],"tags":[154276,151451,154277,154278,153349,25460,81144],"class_list":["post-652918","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-brkz","tag-commerce","tag-construction-materials","tag-construction-tech","tag-mena","tag-middle-east","tag-saudi-arabia"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/652918","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=652918"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/652918\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/652919"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=652918"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=652918"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=652918"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}