Riyadh - Sharikat Mubasher: Saudi construction technology (contech) company, BRKZ, secured up to $30 million in growth debt from Stride Ventures to solidify its position in the Saudi building materials market.
The new capital will help BRKZ continue investing in AI-driven procurement tools, expanding its flexible payment enablement suite, and growing its supplier network across Saudi Arabia and international markets, the company announced in a press release today.
This growth debt follows BRKZ’s earlier equity rounds totaling $22.5 million, with the latest round fully covered by several investors, including BECO, BNVT Capital, Better Tomorrow Ventures, and Wa’ed Ventures.
Ibrahim Manna, Founder and CEO of BRKZ, stated that the growth debt facility will strengthen the company’s ability to support contractors and factories with more flexible payment and financing enablement options across the Saudi building materials market. “It allows us to further expand our tailored embedded financing ecosystem, helping customers manage project cash flows more efficiently,” he added.
In turn, Ishpreet Singh Gandhi, Founder and Managing Partner at Stride Ventures, commented: “This partnership reflects our commitment to the region’s entrepreneurial economy, with our GCC expansion set to deploy half a billion dollars across the region by 2026.”
BRKZ will enhance cloud manufacturing models and supply/offtake arrangements to support the growth and resilience of factories and raw materials sourcing in the Kingdom.
Founded in 2022, BRKZ addresses inefficiencies in construction procurement, such as fragmented supply chains, manual processes, and cash flow gaps faced by contractors and factories that slow down project execution and increase costs. Its tech-enabled managed marketplace helps contractors and factories secure competitive quotes within minutes and leverage embedded financing tailored to construction cash flow cycles.
