Buildnow secures $9.4 million in Seed funding

Buildnow secures $9.4 million in Seed funding

Saudi Arabia-based proptech Buildnow has raised $9.4 million in Seed funding. The round was a mix of equity ($6.5 million) and debt ($2.9 million) and was co-led by Raed Ventures and Khwarizmi Ventures, with participation from international VC’s and key local angels, including Abdulla Elyas (co-founder of Careem).

Founded in 2022 by Hisham Al Saleh, Rahat Dewan, and Abdulla Sheikh, Buildnow is a build-now-pay-later platform that supplies materials on credit terms tailored for the buyer while paying cash upfront to the SME suppliers.

With the new funding, Buildnow will be able to hire world-class talent to join their team and take Buildnow to new heights.

Press release:

Buildnow - MENA’s first “Build Now, Pay Later” solution, has raised $9.4 million in seed funding. The round was a mix of equity ($6.5 million) and debt ($2.9 million)  and was co-led by Raed Ventures and Khwarizmi Ventures. The round also saw participation by international VC’s and key local angels, including Abdulla Elyas (co-founder of Careem).

Buildnow was launched by Hisham Al Saleh, Rahat Dewan, and Abdulla Sheikh in April 2022. The diverse team comes with backgrounds spanning banking, fintech and construction. Abdulla first experienced the hindrance to business and growth for SMEs like his due to the