Saudi Construction B2B Marketplace Shatib Raises $750,000 Pre-Seed Funding
Shatib, an innovative Saudi Arabia-based B2B marketplace, has successfully closed a pre-seed funding round, securing $750,000 (equivalent to SAR 2.8 million). The investment, sourced from an unnamed strategic angel investor, marks a significant milestone for the Riyadh-based technology platform. Founded in 2024, Shatib is set to transform the procurement landscape for construction materials, offering a novel approach to help real estate developers and contractors achieve substantial cost efficiencies in the booming Saudi construction sector. This crucial capital infusion positions Shatib to scale its operations and enhance its technological offerings, bolstering its role in the region’s digital transformation.
Revolutionizing Construction Procurement Through Group Buying
At its core, Shatib addresses a critical pain point in the construction industry: securing competitive pricing for materials. The platform achieves this by leveraging a sophisticated group buying model. It aggregates demand from various construction projects, consolidating orders from multiple developers and contractors. This collective purchasing power significantly strengthens their negotiation position with manufacturers and distributors, leading to considerable savings. Shatib reports that its users can expect to achieve cost reductions ranging from an impressive 20 to 35 percent compared to typical market prices, directly impacting project profitability.
The company was established in 2024 in Riyadh by Abdulaziz AlMasoud, who also serves as its CEO. AlMasoud brings a wealth of experience in supply chain and procurement management, a background that is directly relevant to Shatib’s mission of optimizing material acquisition. By developing advanced technology solutions, Shatib aims to streamline complex supply chain processes, making construction projects more economically viable and efficient across Saudi Arabia. The platform’s strategic focus is on empowering its clients to manage their procurement more effectively, ultimately accelerating project timelines and improving overall project success.
This successful pre-seed round underscores investor confidence in Shatib’s innovative business model and its potential to disrupt the traditional construction materials market in Saudi Arabia. As the Kingdom continues its ambitious development projects under Vision 2030, platforms like Shatib, which prioritize efficiency and cost-effectiveness, will play a vital role. The fresh capital will enable Shatib to expand its reach, refine its technology, and solidify its position as a leading digital solution for construction material procurement, contributing significantly to the digitization and modernization of the Saudi real estate and infrastructure sectors.
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