Shatib, a Saudi tech platform that helps people buy construction materials in groups to get better prices, has raised a pre-seed funding round. The company secured 2.8 million Saudi riyals (about $750,000) from a strategic angel investor, showing strong confidence in new procurement solutions in the Kingdom.
This funding comes less than a year after Shatib launched and will be used to improve its product, expand into new markets, and build partnerships with important companies in the construction supply chain.
Shatib, founded in 2024 and based in Riyadh, is a B2B marketplace that helps real estate developers and contractors buy construction materials more easily. The platform is designed to simplify and organize the entire purchasing process.
The startup was created by CEO Abdulaziz AlMasoud, who has experience in supply chain and procurement. He is using that knowledge to build a digital solution that fixes long-standing problems in how construction companies plan, source, and manage their material needs.
The platform helps real estate developers and contractors get better prices by combining orders from many projects. This gives them stronger bargaining power with manufacturers and distributors.
Because of this group-buying model, customers can save between 20% and 35% compared to normal market prices.
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