Builtop raises $11 million for construction procurement platform
TAM Capital leads funding in Saudi construction fintech
#SaudiArabia #funding– Riyadh-based AI procurement startup Builtop has raised $11 million in a Seed funding round and debt equity raise led by investment firm TAM Capital, with participation from other investors. Founded in 2024 by Ayman Aljohani, Builtop provides an AI-powered procurement platform for the construction and real estate sectors. The startup provides AI procurement planning and processes, combined with pay-later trade credit to help contractors and suppliers manage cashflow, streamline material sourcing and accelerate project delivery. The $1 million Seed funding and $10 million debt financing will support expansion across Saudi Arabia, enhancement of AI-driven procurement systems and development of solutions for large-scale construction projects.
SO WHAT? – Saudi Arabia’s construction market is currently one of the largest and most active in the world, valued at $104.76 billion in 2024 and projected to reach $174.37 billion by 2030. Builtop addresses a critical pain point in Saudi Arabia’s construction sector: credit and cash flow. By combining AI procurement with embedded finance, Builtop tackles cashflow constraints that typically delay projects and constrain smaller contractors’ ability to participate in large-scale developments. The timing aligns with Saudi Arabia’s construction market growing at 8.70 per cent annually, creating demand for procurement efficiency tools at all levels in the market and for all scales of project.
Here are some key points about the
Saudi AI procurement startup Builtop has raised $11 million, consisting of a successful Seed funding round closed at $1 million and debt equity financing raise of $10 million. The financing round was led by Riyadh-based TAM Capital, with participation from other investors.
The platform combines AI procurement, embedded finance and AI-powered tools to improve operational efficiency and transparency, with an AI-powered virtual assistant that simplifies procurement, suggests optimal suppliers and streamlines requests for quotations.
The startup enables smarter, faster and more transparent construction operations by digitising procurement processes that traditionally involve fragmented supplier relationships, manual quotation processes and limited financing options for smaller contractors.
Builtop’s build-now-pay-later service model addresses working capital challenges facing construction companies managing multiple concurrent projects with varying payment cycles and procurement requirements across supply chains.
Builtop’s Buyer Assistant provides personalised recommendations for building materials, artisans and fit-out services, whilst the platform’s embedded finance capabilities help contractors and suppliers accelerate project delivery through improved cashflow management.
The funding will fuel Builtop’s expansion in the Saudi market, support its pay-later solutions, and accelerate AI-powered innovations for construction and real estate sectors.
Founded in 2024 by Ayman Aljohani, Builtop provides embedded finance solutions including pay-later trade credit that allows contractors to access building materials, artisans and fit-out services whilst managing cashflow constraints through deferred payment arrangements.
Saudi Arabia’s construction market was valued at $104.76 billion in 2024 and is projected to reach $174.37 billion by 2030, representing compound annual growth of 8.70 per cent according to Research And Markets analysis.
ZOOM OUT - Multiple AI startups across the region have identified construction procurement as business ready for disruption. Earlier this year Saudi-based startup TruBuild raised $1 million in Seed funding, led by Saudi Aramco’s Wa’ed Ventures and Dar Ventures, the investment arm of regional engineering firm Dar Al-Handasah. The AI-driven platform automates 70 per cent of procurement tasks and speeds up processes like tender evaluations and contract approvals by up to 80 per cent, reducing project delays and cost overruns. With strong growth in the GCC’s $200+ billion construction sector, there is growing recognition among investors for the potential of AI solutions that address inefficiencies in the sector and disrupt the traditional ecosystem.
[Written and edited with the assistance of AI]
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