Saudi Arabia-based Buildnow, the first BNPL company in the MENA region that specializes in decoupling trade from credit in the B2B sector, has successfully raised $10 million through a combination of debt and non-dilutive financing.
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This investment round will enhance Buildnow’s services and expand its support to small and medium enterprises (SMEs) in the construction sector through its innovative BNPL financing solutions .
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The investment round was led by Arbah Capital , with participation from STV through its NICE product , bringing the total funding raised by Buildnow since inception to $20 million. In a strategic move to enhance impact, Buildnow has partnered with Goa Capital to launch Goa Infrastructure Fund I, a $80 million fixed-income trade finance fund.
Beldnaw has facilitated the exchange of over 125,000 tons of raw materials, supporting over 800 SMEs. Through its strong network of suppliers and advanced digital credit assessment tools, Beldnaw offers SMEs flexible payment terms, while ensuring that suppliers receive their payments in advance. This model helps solve one of the biggest challenges facing the sector – limited access to credit – helping SMEs stabilize their cash flow and expand their businesses efficiently.
“The construction industry in Saudi Arabia alone has an annual turnover of $42 billion, yet SMEs face significant cash flow challenges due to delayed payment cycles and limited access to credit,” said Abdullah Al Shaikh, CEO of Beldnaw. “Our platform offers tailored financing solutions to buyers while ensuring suppliers receive their payments upfront, enhancing the efficiency of the sector and enabling greater growth opportunities.”
Beldnaw platform provides three main advantages to users:
- Speed – Customers can obtain building materials on credit within just 24 hours, significantly reducing waiting times and improving project timelines.
- Ease – The entire process is digital, eliminating the need for field visits or lengthy paperwork, and making it easy for businesses to obtain the necessary materials quickly and seamlessly.
- Flexibility – Buyers gain expanded access to a network of suppliers, with the ability to purchase on payment terms that fit their cash flow, giving them greater financial flexibility.
Beldnaw’s innovative model has received strong investor confidence. “We are delighted to support Beldnaw’s expansion through the NICE instrument, which provides non-dilutive, Shariah-compliant financing to fast-growing companies,” said Ihsan Jawad of STV. “Our partnership with Beldnaw reflects our shared commitment to innovation and sustainable growth. We are confident that this financing will deliver exceptional results,” added Walid Rashdan, CEO of Arbah Capital.
Expanding its mission, Beldnaw’s partnership with Goa Capital aims to address the financial challenges facing the Kingdom’s construction sector through the launch of Goa Infrastructure Fund I.
“We are excited to partner with Beldnaw on this transformative initiative and are confident in their ability to create long-term sustainable value,” said Yousef Al Yousfi, Managing Partner and CEO of Goa Capital. “The fund will contribute to enhancing the sustainability and efficiency of the Saudi construction sector ecosystem by providing vital financial support and leveraging AI and advanced technologies to uncover investment opportunities that are often overlooked.”
As BeldNow continues to grow rapidly, the company continues to expand its team and strengthen its position in the fintech ecosystem to support SMEs across the region. With significant growth in 2024 and strong support from major investors, BeldNow is ideally positioned to drive economic progress and enhance financial stability in the construction sector in the MENA region.
About Buildnow
Founded in 2022 by Abdulla Sheikh, Rahat Dewan, and Hisham Al Saleh, Buildnow has swiftly emerged as a transformative force in the construction sector. By facilitating the exchange of over 125,000 tonnes of raw materials and empowering more than 800 SMEs, Buildnow addresses critical cash flow challenges that have long hindered SME growth in the industry. The construction sector in Saudi Arabia alone witnesses approximately $42 billion in trade annually, yet SMEs often grapple with delayed payment cycles and restricted access to credit.
