SafaQat, a homegrown digital procurement platform, has raised strategic funding from Oman Future Fund and Idrak Group, signaling increased investor confidence in Oman’s tech-driven economy.
Though the funding amount remains undisclosed, the investment is set to accelerate the platform’s growth in digital tenders, AI innovation, and regional expansion.
Founded by four brothers — Majed, Sulaiman, Ibrahim, and Al Moatasem Al Saifi — during the COVID-19 lockdowns, SafaQat has grown from a quote-sharing app into a full-scale platform for competitive procurement. It operates under the oversight of the SME Development Authority (Riyada).
SafaQat: Empowering SMEs and Digital Infrastructure
With over 2,486 users, 2,784 registered suppliers, and 1,260 tenders posted, SafaQat is emerging as a national champion in e-procurement. The platform enables businesses to digitize their purchasing processes, reduce inefficiencies, and foster transparency in supply chains.
“This investment represents a qualitative leap,” said Co-founder Al Moatasem Al Saifi. “It’s not just financial; it’s a vote of confidence in Oman’s digital economy and the youth driving it.”
The new capital will be used to enhance technical infrastructure, improve user experience, expand AI capabilities, and support government procurement initiatives. SafaQat also plans to scale into regional markets, further cementing its footprint in the GCC digital transformation space.
AI, Training, and Community Engagement Ahead
In addition to platform development, SafaQat is investing in AI-powered tools for bid analysis and price forecasting. It continues to support SMEs with free onboarding, training programs, and community-driven procurement campaigns.
The company has garnered national recognition, including accolades from Jadarah 2024 and the Omani Startup Accelerator, highlighting its role in Oman’s innovation ecosystem.
Backed by strong local support and strategic investors, SafaQat is well-positioned to lead the next phase of digitisation in Oman’s procurement and supply chain sector.
