Saudi Arabia-based construction procurement startup Project Suppliers has raised $1 million (SAR 3.75 million) in a pre-seed funding round backed by a group of undisclosed angel investors.
Founded in 2020, Project Suppliers operates a digital platform connecting suppliers and buyers across the construction and procurement sectors. The Riyadh-headquartered company provides a specialised search engine and tools for managing requests for quotations, tracking transactions and generating reports. Husam Jaber is co-founder and CEO.
According to the company, its database includes more than 12,000 suppliers and contractors, while nearly 600,000 requests for quotations have been submitted through the platform.
Project Suppliers plans to use the funding and data generated through its platform to develop cash flow management solutions for companies and suppliers in the mechanical, electrical and plumbing and construction sectors. The planned products will use artificial intelligence for predictive and financing tools designed to support liquidity management and address delayed payment cycles.
The company is preparing to introduce the financial and technology solutions in Saudi Arabia, with plans to expand the offering across the wider GCC market.
