Construction materials marketplace – BRKZ – has secured an $8m investment to help the company establish itself as a one stop shop for the construction sector, and to expand its footprint across the MENA region.
The funding 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.
With this Series A funding round, BRKZ has raised a total of $13.55m. The company’s seed round ($5.55m) was led by Better Tomorrow Ventures, with participation from Class 5 Global, Knollwood Investment Advisory, Plus VC, and several other strategic Saudi angel investors.
“The MENA construction market is full of substantial opportunities both for investors and contractors. BRKZ is well placed and capitalised to be the catalyst to boost development. The investment aligns with Saudi Arabia’s Vision 2030, attracting foreign investors and founders to a flourishing construction sector. BRKZ’s strategic initiatives are aligned perfectly with our investment philosophy at BECO Capital. We’re excited to be part of their journey.”
Dany Farha from BECO Capital
The company, who specialise in materials procurement for construction projects, helps to connect construction businesses with suppliers of building materials. For buyers of the materials, BRKZ offers access to the best prices across a wide pool of suppliers and materials along with multiple delivery and payment options. It also provides a quick and easy Request for Quotes either via WhatsApp or from their website.
Suppliers engage with BRKZ to benefit from access to a wide customer base. The simplified portal enables them to customise prices by size, location and delivery options. To date, the tech startup marketplace has facilitated over $170m quotations across nearly 1,200 products from over 350 suppliers.
“The investment underscores BRKZ’s commitment to digitising buying and selling building materials, promoting transparency, and fostering efficient contractor financing. It comes at a pivotal moment for BRKZ, enabling us to grow further within the $100bn construction market here in KSA. We’re set to drive significant change, through tech, across every single touchpoint relevant to how building materials are sourced and supplied in a sector crucial to our economic landscape.”
Ibrahim Manna, Founder, BRKZ
BRKZ was launched in 2022 and founded by Ibrahim Manna, a three-time logistics founder and former Careem executive. The platform was launched to address critical challenges in the construction industry – such as fragmented supply chains, operational inefficiencies and lack of access to finances.
The company aims to leverage technology to ensure equitable access to the best market prices for all contractors. It is also on a mission to build a tech-enabled ecosystem to revolutionise the MENA construction industry.
“At 9900, we focus on ‘big problems’, identifying extraordinary founders solving for externalities across a range of sectors, globally. Nowhere is this more evident than in the construction sector – an industry marred by inefficiencies resulting in an estimated $1.6tn in annual losses to economic actors, as well as 5.7 billion metric tonnes of CO2 each year, which accounts for ~26% of global emissions. With their best-in-class procurement platform delivered through the power of technology, we’re excited to be backing Ibrahim and the BRKZ team towards driving positive change for this important economic sector within the MENA region.”
Chris Corbishley, Managing Partner, 9900
