Riyadh-based construction tech firm BRKZ secured up to USD 30 mn in growth debt from the Indian venture debt firm Stride Ventures, Wamda reports. The firm secured a total of USD 22.5 mn across earlier equity rounds, including a USD 17 mn series A funding round.

Where will the money go? The funds will be used to expand the firm’s financing enablement capabilities, giving contractors and factories across Saudi Arabia more flexible payment options and stronger cash flow support, Founder and CEO Ibrahim Manna told EnterpriseAM. It will also use a portion of the capital to develop its procurement process.

The Saudi market is the top priority: The company is focused on expanding its presence in Saudi Arabia while maintaining active trade routes with China, India, the UAE, and Europe, Manna said to us. It sources raw materials from India and China and benefits from the UAE and Europe for logistics and quality advantages. Future expansion is being considered in the UAE and Qatar, driven by strong construction activity and market similarities with Saudi Arabia.

What’s next? The company plans to focus on scaling its factories and raw materials segment, while continuing to invest in AI-driven procurement tools, Manna told us. It is also doubling down on cloud manufacturing models and supply/offtake arrangements.

The company is also currently engaging with investors and venture capital firms to prepare for its upcoming Series B round, Manna mentioned. It aims to attract partners who can add value beyond capital, particularly in areas like technology, fintech, and regional expansion.

About BRKZ: Founded in 2022 by Ibrahim Manna (LinkedIn), BRKZ offers a B2B platform that connects suppliers and contractors in the construction industry, attempting to address fragmented, manual procurement processes. BRKZ served over 850 contractors and processed USD 350 mn in RFQs in 2024, supporting gigaprojects like Neom and Red Sea.

Stride Ventures also formed a strategic alliance with SAB Invest, Saudi Awwal Bank’s investment arm, to fund startups and SMEs in Saudi Arabia and across the GCC, according to a press release (pdf). The partnership involves providing capital to the targeted firms using non-dilutive financing instruments, which means raising funds without giving away ownership. Stride aims to invest USD 500 mn over the next three to five years across the region.

The details: This joint platform for venture debt and private credit will offer Shariah-compliant funding solutions across several sectors, including fintech, B2B SaaS, health tech, logistics, and consumer brands. “We aim to deliver diversified returns to our investors through a dynamic private credit asset class, and to strategically support the next generation of Saudi and GCC champions,” SAB Invest’s CEO Ali Almansour said.

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