BRKZ CONSTRUCTION-TECH STARTUP SECURES $8 MILLION SERIES A FUNDING FOR MENA EXPANSION.
BRKZ, a Riyadh-based construction-tech startup founded by Ibrahim Manna, has secured $8 million in a Series A funding round co-led by Beco Capital and 9900 Capital.
BRKZ aims to streamline the procurement process for contractors and manufacturers in the MENA region.
The new investment will enable BRKZ to expand its platform across Saudi Arabia and the wider MENA region. The company plans to focus on facilitating same-day or next-day delivery of construction materials, while also venturing into equipment rentals and manpower sourcing.
“We’re looking to invest in several key areas to grow our platform,” said Manna, a former executive at Careem. “Our main focus for the upcoming year is to expand our in-house tech capabilities, double down on financing solutions, and ensure we have solid operations and supplier coverage in every city in KSA.”
BRKZ utilizes a unique approach that does not involve direct online purchasing. Instead, buyers generate and share Requests for Quotation (RFQs) through the company’s app or WhatsApp. This method allows for customization and negotiation, particularly relevant for bulk orders in the construction industry.
Since its launch, BRKZ has facilitated over $170 million in quotations across nearly 1,200 diverse products from more than 350 suppliers. With a stronghold in the MENA region, the company is well-positioned to drive further growth by expanding its reach and capitalizing on the significant construction market size in the area.
Its continued efforts towards expanding in the region is helping BRKZ to become a key player in the construction industry, providing a reliable platform for suppliers and buyers in the MENA region.
“What’s fulfilling about digitizing a traditional sector is the amount of impact you can witness in a short period of time,” said Manna. “Our customers are saving a lot of time – what used to take days now takes minutes.”
From the News Source: Techeconomy
