Buildnow, a Saudi Arabia-based construction technology company, has raised $9.7 million in a funding round led by STV and Arbah Capital. The investment includes a mix of equity and debt financing, aimed at expanding its services within the region.
Founded in 2022 by Hisham Al-Saleh, Rahat Dewan, and Abdullah Al-Sheikh, Buildnow offers a “Build Now, Pay Later” solution designed to enhance liquidity for small and medium-sized enterprises (SMEs) in the construction sector. The platform enables buyers to procure materials on credit terms while ensuring upfront payments to SME suppliers.
This funding follows an earlier seed round in March, where Buildnow raised $9.4 million, comprising $6.5 million in equity and $2.9 million in debt financing.
By leveraging digital financial assessment tools, Buildnow evaluates buyers’ creditworthiness based on financial data, legal standing, and market position. This approach allows the company to offer structured credit solutions while maintaining financial stability for suppliers.
The latest investment will be used to scale operations and strengthen Buildnow’s role in the construction supply chain across the Middle East.
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By Proptechbuzz
By Ravi Kumar
