Project Suppliers closes SAR 3.75M pre-seed round
Project Suppliers has closed its first Pre-Seed investment round worth SAR 3.75 million, with participation from a number of angel investors.
The technology platform provides direct and secure connections between suppliers and buyers in the construction and MEP supply sector through a specialized search engine and digital tools for managing and tracking quotation requests. Its database includes more than 12,000 suppliers and contractors, while nearly 600,000 quotation requests have been submitted through the platform.
Through the investment, Project Suppliers plans to develop an integrated suite of AI-powered cash flow management solutions. The tools will analyze the platform’s operational data to provide intelligent financing and predictive tools aimed at addressing liquidity challenges, reducing deferred collection periods, and improving supply chain efficiency across the MEP supply sector.
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The MEP supply and construction sector is a key backbone of major projects in Saudi Arabia under Vision 2030. However, the sector continues to face structural challenges related to cash flow management and delayed financial settlement cycles between contractors and suppliers.
“We see an exceptional opportunity in the Saudi market to drive a significant technological and financial transformation. By building on real operational data generated from hundreds of thousands of quotation requests and projects, we aim to develop AI-powered cash flow solutions.”
Project Suppliers is preparing to launch its new suite of financial and technology solutions for contractors and suppliers operating in the MEP and construction sectors across the Saudi and GCC markets.
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