Buildnow Secures $10M Funding, Launches $80M Infrastructure Fund

Riyadh, Saudi Arabia – 11 Feb 2025

Buildnow, MENA’s first "Build Now Pay Later" (BNPL) company dedicated to uncoupling trade from credit in the B2B, has successfully raised $10 million in a combination of debt and non-dilutive equity funding. This milestone investment will enable Buildnow to expand its offerings and empower small and medium-sized enterprises (SMEs) in the construction sector with its innovative BNPL solution. The round was led by Arbah Capital, with participation from STV through the NICE product, bringing Buildnow’s total lifetime funding to $20 million. In a strategic move to further drive impact, Buildnow has partnered with Joa Capital to launch the Joa Infrastructure Fund I, an $80 million fixed dividend trade finance fund.

Since its inception in 2022 by Hisham Al Saleh, Rahat Dewan, and Abdulla Sheikh, Buildnow has facilitated the exchange of over 125,000 tonnes of raw materials and supported more than 800 SMEs. By leveraging a robust supplier network and advanced digital credit assessment tools, Buildnow provides SMEs with flexible payment terms while ensuring suppliers receive upfront payments. This approach addresses one of the industry’s most pressing challenges—limited access to credit—allowing SMEs to stabilize cash flow and scale operations effectively.

"The construction industry in Saudi Arabia alone sees $42 billion in trade annually, yet SMEs often struggle with cash flow due to delayed payment cycles and limited access to credit," said Abdulla Sheikh, CEO of Buildnow. "Our platform eliminates these financial bottlenecks by offering tailored credit solutions for buyers and ensuring suppliers get paid upfront, fostering a more efficient and scalable ecosystem."The company’s platform offers three key benefits for users:

1. Speed – Customers can acquire construction materials on credit within 24 hours, dramatically reducing wait times and improving project timelines.
2. Ease – The entire process is fully digital, removing the need for physical visits or lengthy paperwork, making it easier for businesses to get the materials they need.
3. Flexibility – Buyers gain access to an expanded network of suppliers and can purchase materials on terms that better align with their cash flow, providing greater financial flexibility.

Buildnow’s innovative model has garnered strong investor confidence. "We are pleased to be able to help Buildnow scale their services through the NICE instrument, which provides sharia-compliant non-dilutive funding to high-growth companies," said Ihsan Jawad from STV. Waleed Rashdan, CEO of Arbah Capital, added, "Partnering with Buildnow reflects our shared commitment to innovation and sustainable growth. We are confident this financing will drive remarkable outcomes."

Expanding on its mission, Buildnow’s partnership with Joa Capital aims to address financial constraints in Saudi Arabia’s construction sector through establishing the Joa Infrastructure Fund I. "We are excited to partner with Buildnow on this transformative initiative and confident in their abilities to create sustainable, long-term value. The fund will positively impact the sustainability and efficiency of the Saudi construction ecosystem by providing critical financial assistance and leveraging AI and cutting-edge technology to originate and evaluate overlooked investment opportunities.” said Yousef AlYousefi, managing partner and CEO at Joa Capital.

As Buildnow continues its rapid growth trajectory, the company is actively expanding its team and strengthening its position in the fintech ecosystem to support SMEs across the region. With impressive growth in 2024 and strong backing from leading investors, Buildnow is well-positioned to drive economic progress and financial stability in the MENA construction sector.

For media inquiries, please contact:
Mohanad Akif
mohanad.akif@buildnow.sa
(+966)547238142