Riyadh - Sharikat Mubasher: The Saudi-based B2B construction technology (contech) company BRKZ secured $31 million in new capital to accelerate its next growth phase.
The capital included $13 million in Series B equity led by Wa'ed Ventures and 500 Global, with participation from BECO Capital and ANB Capital. Additionally, existing financing partner Stride Ventures committed $18 million in growth debt under BRKZ's previously announced $30 million venture debt facility, the company revealed in a statement today.
The new capital will help BRKZ advance its AI-powered capabilities across quotation, pricing, and fulfilment, automate more of the procurement journey, and deepen vertical integration across the supply chain, from raw materials sourcing to last-mile delivery.
The company will also use the funding to scale cross-border sourcing and trading, expanding direct supply corridors with China, India, and other major manufacturing markets to improve material availability, pricing, and sourcing flexibility.
Ibrahim Manna, founder and CEO of BRKZ, said: "The past twelve months have reinforced why we built BRKZ. Even amid significant regional and supply-chain disruptions, we achieved record growth because contractors and factories still need reliable access to materials, competitive pricing, and dependable fulfillment. Having spent our first years building the supply network, infrastructure, and data to digitize procurement at scale, we can now make that infrastructure significantly smarter and, with this funding, extend our reach across Saudi Arabia and the region."
In turn, Anas Alghatani, CEO of Wa'ed Ventures, commented: “Our continued investment in BRKZ reflects our confidence in the company’s ability to make building materials procurement more efficient, connected and data-driven. We look forward to supporting the team as they further advance their AI capabilities and scale their impact across Saudi Arabia and the wider region.”
BRKZ now serves more than 1,500 contracting companies and 150 building materials factories, supported by approximately 2,100 local and international suppliers. Since its inception, it has secured more than $70 million in total capital across equity and debt.