Riyadh – Sharikat Mubasher: Project Suppliers, a Saudi technology startup serving the construction and procurement sectors, announced it has raised SAR 3.75 million in a pre-seed funding round backed by a group of angel investors.
As per a recent press release, the fresh capital will support the development of AI-powered cash flow management solutions for construction and MEP (mechanical, electrical and plumbing) suppliers. The startup plans to use data generated through its platform to develop predictive and financing tools that can help businesses manage liquidity, reduce the impact of delayed payments, and improve supply chain efficiency.
The company operates a digital platform that connects suppliers and buyers in the construction and procurement markets. Its database includes more than 12,000 suppliers and contractors, while the platform has processed around 600,000 requests for quotations.
Project Suppliers also provides tools for managing quotation requests, tracking transactions and generating reports, with the aim of improving visibility and efficiency across procurement operations.
On this occasion, Hossam Jaber, Co-founder and CEO of Project Suppliers, said the funding comes at a pivotal stage for the company as it seeks to address cash flow and settlement challenges facing contractors and suppliers.
The startup plans to expand its financial and technology solutions across Saudi Arabia and the wider Gulf, targeting businesses operating in the construction and MEP sectors.
