SafaQat, a digital platform from Oman that facilitates buying and procurement, has secured new funding from the Oman Future Fund and the Idrak Group. The exact amount was not shared.
This investment shows strong support for local tech startups and their important role in helping build a sustainable digital economy in Oman.
SafaQat was started by four brothers from Nizwa — Majed, Sulaiman, Ibrahim, and Al Moatasem Al Saifi — during the COVID-19 lockdowns. The project is supervised by the SME Development Authority (Riyada).
What began as a simple tool for sharing price quotes has grown into a full digital platform that helps businesses run competitive tenders and manage their purchasing online.
“This investment represents a qualitative leap. It’s not just financial; it’s about believing in the future of Oman’s digital economy and empowering youth,” said co-founder Al Moatasem Al Saifi. The funding will be used to improve technical infrastructure, user experience, and AI capabilities; expand into government procurement; and scale to new markets.
SafaQat now has more than 2,486 users, 1,260 tenders, and 2,784 registered suppliers. This makes it one of the leading platforms in Oman for digital procurement and supply chain management.
The platform has won several awards, including recognition at Jadarah 2024 and from the Omani Startup Accelerator program.
Looking ahead, SafaQat plans to develop AI tools to help analyze bids and predict prices. It will also continue to support local small and medium-sized businesses by offering training, free onboarding, and community-based programs.
Read more- Grab PH Teams Up with PDAX and Triple-A to Let Users Add Crypto to GrabPay
