Buildnow secures $9.7 million investment led by STV

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Here are the main bullet points summarizing the article:

  • Funding Round: Buildnow, a Saudi Arabia-based construction tech company, secured a $9.7 million investment led by STV and Arbah Capital, alongside additional debt financing, to support its expansion plans.

  • Business Model: Founded in 2022, Buildnow operates on a "Build Now, Pay Later" model, providing credit terms for suppliers while paying them upfront, tailored specifically for small and medium enterprises (SMEs) in the construction sector.

  • Previous Funding: The company previously raised $9.4 million in a seed funding round in March 2024, which included $6.5 million in equity and $2.9 million in debt financing.

  • Technological Edge: Buildnow utilizes advanced digital technologies to analyze financial data, legal status, and market reputation of buyers, allowing it to offer customized financing solutions.

  • Founders: The company was founded by Hisham Al Saleh, Rahat Dewan, and Abdulla Sheikh with a mission to innovate construction financing for sustainable growth in the industry.

Buildnow secures $9.7 million investment led by STV


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  • Saudi Arabia-based contech Buildnow has closed a $9.7 million funding round, led by STV and Arbah Capital, with additional funding from a mix of debt financing, reinforcing the company’s expansion plans in the market.

  • Founded in 2022 by Hisham Al Saleh, Rahat Dewan, and Abdulla Sheikh, Buildnow is a build-now-pay-later platform that supplies materials on credit terms tailored for the buyer while paying cash upfront to the SME suppliers.

  • The new funding will support the expansion of the company’s operations for small and medium enterprises (SMEs) in the construction and building sector.

  • In March, the company closed an initial seed funding round worth $9.4 million, which included $6.5 million in equity and $2.9 million in debt financing.

Source: EntArabi

Buildnow, a Saudi-based company specialising in supply chain solutions for the construction sector in the Middle East, has announced the successful closure of a new $9.7 million funding round.

The round was led by STV and Arbah Capital, with additional funding from a mix of debt financing, reinforcing the company’s expansion plans in the market.

Buildnow provides “Build Now, Pay Later” solutions, aiming to support SMEs in the construction industry through a specialised credit management platform and an integrated supply chain network.

In March, the company closed an initial seed funding round worth SAR 35.3 million ($9.4 million), which included $6.5 million in equity and $2.9 million in debt financing.

Buildnow leverages advanced digital technologies to analyse the financial data, legal status, and market reputation of buyers. This allows the company to offer flexible financing solutions with tailored credit terms while also providing upfront liquidity to SME suppliers.

Founded in April 2022 by Hisham Al-Saleh, Rahat Dewan, and Abdullah Al-Sheikh, Buildnow aims to revolutionise construction financing with innovative solutions that foster growth and sustainability.

Here’s a structured summary based on the information you provided about Buildnow and its funding:

Startup Information

  • Name: Buildnow
  • Founded: April 2022
  • Founders:
    • Hisham Al Saleh
    • Rahat Dewan
    • Abdulla Sheikh

Funding Details

  • Latest Fundraise:

    • Amount: $9.7 million
    • Date: February 12, 2025
    • Funding Series: Not specified (likely a follow-on to initial seed funding)
    • Lead Investors:
    • STV
    • Arbah Capital
    • Additional Funding: Mix of debt financing
  • Previous Fundraise:
    • Amount: $9.4 million (SAR 35.3 million)
    • Components:
    • $6.5 million in equity
    • $2.9 million in debt financing
    • Date: March 2024

Overview

  • Sector: Construction and Fintech (Build Now, Pay Later platform)
  • Mission: Provide tailored credit solutions and integrated supply chain services to support small and medium enterprises (SMEs) in the construction industry.

This should encapsulate all the key points related to Buildnow, its founders, funding rounds, and investors.

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