Project Suppliers has closed a SAR 3.75 million pre-seed investment round, backed by angel investors, to develop AI-powered cash flow management solutions for Saudi Arabia’s construction and MEP supply sectors.
The platform connects suppliers and buyers in the construction and supply industry. According to the announcement, its database includes more than 12,000 suppliers and contractors, while users have submitted nearly 600,000 quotation requests.
Project Suppliers also offers search, quotation management and tracking tools, alongside instant reporting capabilities. It plans to use the operational data generated through the platform to build financial and technology products tailored to MEP suppliers and contractors.
The new solutions will use artificial intelligence to analyse data and provide financing and predictive tools. The company said these tools are intended to help address liquidity constraints, shorten delayed collection periods and improve supply chain efficiency.
Project Suppliers is preparing to launch the product suite across Saudi Arabia and the wider GCC. Hossam Gaber, the company’s co-founder and CEO, said the funding would support a broader effort to combine operational connectivity with financial solutions for the construction and MEP sectors.
Source: EntArabi
