BRKZ secures USD $30 million loan to expand Saudi construction tech
BRKZ has secured up to USD $30 million in growth debt from Stride Ventures to support the construction sector in Saudi Arabia.
The funding will allow BRKZ, a B2B managed marketplace for building materials, to enhance its capacity to provide tailored financing solutions to factories and contractors. This initiative aligns with the ongoing expansion of the Saudi construction market, which is witnessing major developments including King Salman Park, Expo 2030, and the upcoming FIFA World Cup 2034.
Market context
Saudi Arabia is currently pushing forward with large-scale infrastructure projects such as Diriyah Gate, Qiddiya, and The Red Sea Project. Demand for more efficient procurement and advanced financing solutions is rising as stakeholders seek to meet ambitious build schedules and improve project execution.
BRKZ's new financing facility is set to serve as working capital, with the potential to enable transactions valued at up to USD $48 million. The company expects that factories will represent half of its customer base by next year-a reflection of the growing complexity and size of projects in the region.
Company performance
Since its launch in 2022, BRKZ has grown its catalogue to over 7,500 stock-keeping units (SKUs) offered by 1,300 suppliers, and has facilitated requests for quotes totalling SAR 3.14 billion (about USD $837 million). Over 850 unique contracting companies and factories use the platform, underlining its presence within Saudi Arabia's building materials ecosystem.
Previous equity rounds for BRKZ raised USD $22.5 million, with investors such as BECO, BNVT Capital, Better Tomorrow Ventures, and Aramco's Wa'ed continuing to participate. In the last year, the company reported that revenues had increased fourfold while maintaining positive unit economics.
BRKZ was recently accepted into the Saudi Unicorns Programme, which focuses on supporting scale-up companies aligned with national economic priorities.
Statements from leadership and partners
This growth debt facility from Stride Ventures strengthens our 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. With the recognition of being hand-picked into the Saudi Unicorns Programme, we are firmly positioned to scale as the procurement and financial enablement partner of choice for contractors and factories nationwide. Stride has a proven track record of backing companies with similar models, making them the right partner to support us as we scale this vision in Saudi Arabia.
Ibrahim Manna, Founder & Chief Executive Officer of BRKZ, emphasised the importance of the new facility for the company's future plans. Khaled Hamada, General Manager of AlFanar Contracting, commented on the effects of the financing platform on operations:
BRKZ's financing enablement solutions have been a game-changer for our projects. Having access to tailored payment terms through their platform allowed us to execute multiple projects across Saudi Arabia more efficiently, while meeting tight deadlines without the usual financing hurdles. Their approach gives contractors like us the confidence and flexibility to scale with the pace of the Kingdom's giga-projects.
Representatives of Stride Ventures highlighted the strategic fit and regional significance. Ishpreet Singh Gandhi, Founder & Managing Partner at Stride Ventures, said:
BRKZ is a standout startup, building the financing infrastructure to match the pace and scale of Saudi Arabia's construction transformation under Vision 2030. 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.
Fariha Ansari Javed, Partner at Stride Ventures, also stated:
We are proud to back BRKZ as it pioneers innovative financing solutions for Saudi Arabia's building materials sector. Having previously partnered with leaders in similar models in India, we believe BRKZ is well-positioned to replicate and localize that success in the Kingdom. Their strong execution, rapid scale, and alignment with national priorities make them a true standout in the region.
Looking ahead
BRKZ plans to continue its investment in artificial intelligence-driven procurement tools, expand its buy-now-pay-later financing suite, and grow its supplier network in Saudi Arabia, China, and India. The company is also focusing on cloud manufacturing models and further developing off-take arrangements to strengthen the resilience of raw material sourcing for factories in the Kingdom.
