Riyadh, Saudi Arabia - February 11, 2025
Buildnow, the first “Build Now Pay Later” program in the MENA region (BNPL), a company dedicated to decoupling trade from credit in B2B, has successfully raised $10 million in a combination of debt financing and non-diluted equity. This landmark investment will enable Buildnow to expand its offerings and empower small and medium enterprises (SMEs) in the construction sector through its innovative BNPL solution. And I led the tour Arbah Capital, with the participation of STV thru pleasant product, bringing Buildnow's total lifetime funding to $20 million. In a strategic move to increase impact, Buildnow has partnered with Goa Capital To launch Joa Infrastructure Fund I, a commercial finance fund with fixed profits of $80 million.
Since its establishment in 2022 by Hisham Al-Saleh, Rahat Diwan and Abdullah Sheikh, Buildnow has facilitated the exchange of over 125,000 tons of raw materials and supported more than 800 small and medium enterprises. By leveraging its powerful supplier network and advanced digital credit assessment tools, Buildnow provides small and medium businesses with flexible payment terms while ensuring suppliers receive down payments. This approach addresses one of the most pressing challenges in the industry — limited access to credit — allowing small and medium businesses to stabilize cash flow and scale operations effectively.
Abdullah Sheikh, CEO of Buildnow, said: “The construction industry in Saudi Arabia alone sees $42 billion in trade annually, yet small and medium enterprises often suffer from cash flow due to delayed payment cycles and limited access to credit.” “Our platform eliminates these financial bottlenecks by offering credit solutions tailored to buyers, ensuring suppliers get paid in advance, and promoting a more efficient and scalable ecosystem.” The company's platform offers three main benefits to users:
1. velocity - Customers can obtain construction materials on credit within 24 hours, significantly reducing wait times and improving project timelines.
2. ease - The entire process is fully digital, eliminating the need for physical visits or lengthy paperwork, making it easy for companies to get the materials they need.
3. resiliency - Buyers have access to an expanded network of suppliers and can purchase materials on terms that better match cash flow, providing greater financial flexibility.
Buildnow's innovative model has earned strong trust from investors. STV's Ehsan Jawad said: “We are pleased to be able to help Buildnow expand its range of services through the NICE tool, which provides non-diluted Sharia-compliant funding to high-growth companies.” Walid Rashdan, CEO of Arbah Capital, added: “The partnership with Buildnow reflects our shared commitment to innovation and sustainable growth. We are confident that this funding will deliver great results.”
Extending its mission, Buildnow's partnership with Joa Capital aims to address financial constraints in the construction sector in Saudi Arabia by establishing the first Joa Infrastructure Fund: “We are excited to partner with Buildnow on this transformative initiative and are confident in their ability to create sustainable and long-term value. Yousef Al-Yousifi, managing partner and CEO of Joa Capital, said: “The fund will positively impact the sustainability and efficiency of the Saudi construction ecosystem by providing important financial assistance and leveraging artificial intelligence and advanced technology to create and evaluate overlooked investment opportunities.”
As Buildnow continues its fast growth path, the company is actively expanding its team and strengthening its position in the fintech ecosystem to support small and medium enterprises across the region. Thanks to the impressive growth in 2024 and strong support from top investors, Buildnow is well positioned to drive economic progress and financial stability in the construction sector in the MENA region.
For media inquiries, please contact:
Mohanad Akef
mohanad.akif@buildnow.sa
(+966) 547238142
