$8 million for BRKZ to connect construction businesses with suppliers

🏗️ Meet BRKZ! A Saudi Arabia-based contech startup that offers a B2B platform for sourcing building materials and managing supply chains efficiently.

And, they've just secured $8 million in Series A funding!

• Founded in 2022 by Ibrahim Manna, BRKZ connects construction businesses with a broad range of suppliers and materials, coupled with versatile delivery and payment options.

💰 Investor lowdown: The investment round was co-led by 9900 and BECO Capital, with participation from Aramco’s Wa’ed Ventures, Knollwood Investment Advisory, RZM Investment, and MISY Ventures. 

• Following this Series A financing, the total capital raised by BRKZ has reached $13.55 million. 

🌍 Construction conundrum

The total value of various infrastructure, transport, and building projects across the MENA region is $2.5 trillion. Yet, the procurement process for construction projects remains cumbersome and inefficient.

Compared to global standards, the region faces a fragmented supply chain, operational inefficiencies, and limited access to financial resources.

• The impact? Elevated costs, delays, and a struggle to secure competitive pricing for quality materials.

🪚 Competitive edge

This is where BRKZ’s platform steps in, offering competitive prices across a wide selection of materials.

The startup uses an RFQ process via its app or WhatsApp for purchases, taking 30 seconds. This allows customisation and negotiation for bulk construction orders, ensuring competitive prices. Common materials are processed quickly, with specialised ones taking longer, yet still faster than traditional stores.

• To date, BRKZ claims to have facilitated over $170 million quotations across nearly 1,200 products from more than 350 suppliers

⚙️ Break it down

🏢 For suppliers? They gain access to a broad customer base without the traditional marketing expenses. The platform's simplified portal allows suppliers to customise prices based on size, location, and delivery options, maximising their reach and efficiency.

👷 For contractors? BRKZ offers a seamless platform for sourcing materials and managing supplies, focusing on same or next-day delivery. This efficiency not only saves time but also reduces project overheads, ensuring materials are on-site when needed.

🔮 Flashforward:

BRKZ plans to utilise the fresh funding to advance its platform capabilities and extend its reach throughout the MENA region.

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