BRKZ completes its $17M Series A funding
Summary
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.Unlike traditional procurement methods, BRKZs platform combines a tech-enabled marketplace with embedded financing solutions, transforming how contractors and suppliers interact. 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.Real-world applications demonstrate the platforms transformative impact. 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 Kingdoms Vision 2030, and is ripe for technology and organizational optimization. Having known Ibrahim and the team for years, weve 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 Arabias Northern and Southern regions during 2025 while expanding its supplier network into global markets, focusing on China and India.