• Saudi Arabia-based B2B marketplace for construction materials Shatib has raised $750,000 in a pre-seed round from an unnamed angel investor.
• Founded in 2024 by Abdulaziz AlMasoud, Shatib enables developers and contractors to access more competitive prices by aggregating orders from multiple projects.

Press release:

Shatib, the Saudi technology platform specialising in group buying for construction materials, has announced the closing of a SAR 2.8 million pre-seed round from a strategic angel investor.

The platform helps real estate developers and contractors secure better pricing by aggregating demand across multiple projects, strengthening negotiation power with manufacturers and distributors, and achieving cost savings ranging between 20 and 35 percent compared with typical market prices.

Founded in Riyadh in 2024 by Abdulaziz AlMasoud, who serves as CEO and brings experience in supply chain and procurement management, Shatib aims to develop technology solutions that enhance procurement efficiency and reduce costs across the construction ecosystem.