Buildnow Raises $9.7M to Transform Construction Financing
Saudi-based construction technology (contech) startup Buildnow has successfully closed a $9.7 million funding round, led by STV and Arbah Capital, with additional debt financing. The investment will accelerate the company’s expansion in the construction sector, supporting small and medium-sized enterprises (SMEs) with innovative financing solutions.
How Buildnow is Changing Construction Financing
Founded in 2022 by Hisham Al-Saleh, Rahat Dewan, and Abdullah Al-Sheikh, Buildnow operates on a “Build Now, Pay Later” model. The platform provides:
- Credit-based material supply for buyers
- Upfront cash payments to SME suppliers
- Tailored financing solutions based on financial data and market reputation
- An integrated supply chain network for construction materials
By leveraging digital financial analysis, Buildnow ensures that SME suppliers receive immediate payments. This reduces cash flow constraints while allowing buyers to access construction materials on flexible credit terms.
Expansion Plans & Previous Investments
This new $9.7 million funding round follows a $9.4 million seed round closed in March 2024, which included:
- $6.5 million in equity funding
- $2.9 million in debt financing
The latest investment will help Buildnow scale its credit management platform and expand operations across the Middle East, reinforcing its role as a key player in construction financing.
Investor Confidence in Buildnow’s Growth
Hisham Al-Saleh, Co-founder & CEO of Buildnow, emphasized the importance of financial flexibility for construction SMEs:
“SMEs are the backbone of the construction industry. By providing flexible payment solutions, we are helping them grow while ensuring suppliers receive timely payments. This investment will fuel our expansion and enhance our technology-driven financing model.”
A spokesperson from STV, the lead investor, highlighted Buildnow’s role in the region’s economic development:
“Buildnow is solving a major pain point in the construction industry. Their innovative financial solutions are transforming how SMEs manage cash flow and access credit, making them a valuable player in Saudi Arabia’s economic growth.”
The Future of Buildnow
With its AI-powered financial analysis, strategic funding, and commitment to SME empowerment, Buildnow is set to revolutionize the construction sector by:
- Expanding credit-based supply chain solutions across Saudi Arabia and the Middle East
- Enhancing its digital platform for better financial transparency and risk assessment
- Partnering with more SME suppliers to create a more efficient and cash-flow-friendly construction ecosystem
By addressing cash flow challenges in the construction industry, Buildnow is positioning itself as a game-changer in contech financing, driving growth for SMEs and fostering a more resilient market.
