Ibrahim Manna (BRKZ): 10 Key Things You Must Know
Overview
Ibrahim Manna is a versatile entrepreneur known for his role in transforming procurement processes in the construction industry. As the founder and CEO of BRKZ, a leading B2B marketplace in Saudi Arabia, he has leveraged technology to address inefficiencies in the construction sector. With a career that includes serving as the Managing Director at Careem, Manna's initiatives focus on innovation and technological advancement. Dive into ten fascinating aspects of Ibrahim Manna's journey and achievements.
1. Founding BRKZ
- Ibrahim Manna founded BRKZ in 2023, emerging as a pivotal platform that addresses the fragmented nature of procurement in the construction sector. By introducing an innovative digital marketplace, Manna facilitated a transformation in how contractors and suppliers interact, providing significant improvements in efficiency and cost-effectiveness.
2. Experience at Careem
- Before establishing BRKZ, Manna served as the Managing Director for Global Markets at Careem, a leading ride-hailing company acquired by Uber. This experience honed his leadership skills and strategic vision, enabling him to identify and address inefficiencies in various service sectors, including mobility and logistics.
3. Tackling Industry Inefficiencies
- Manna recognized the inherent inefficiencies in the construction procurement process, characterized by multiple suppliers and delayed payments. BRKZ was created to digitize and streamline this process, significantly reducing transaction times and costs for contractors while enhancing supplier engagement.
4. Series A Funding Success
- BRKZ recently completed a $17 million Series A funding round, amassing a total of $22.5 million in capital. This support from investors underscores confidence in Manna's vision and BRKZ's potential to revolutionize the construction procurement market in the MENA region.
5. Vision for the MENA Region
- With its focus on connecting contractors to a broad network of suppliers, BRKZ aims to align with Saudi Arabia's Vision 2030. Manna regards technological integration as key to this vision, setting the stage for modernization and economic diversification in the region.
6. Technological Integration
- BRKZ employs cutting-edge technology to offer over 7,000 products from more than 1,100 suppliers. The platform’s ability to provide competitive quotes within minutes has set a new standard for procurement efficiency, directly addressing a critical industry bottleneck.
7. Strategic Industry Partnerships
- Manna’s strategic foresight led to partnerships with major investors like Aramco’s Wa’ed Ventures and BECO Capital. These collaborations not only provide financial support but also strategic guidance to scale BRKZ's operations across the MENA region.
8. Emphasis on Sustainability
- By digitizing construction procurement, BRKZ contributes to sustainability by reducing paper usage and transportation emissions through efficient logistics. Manna plans to continue integrating sustainable practices into BRKZ's operational model to support global environmental goals.
9. Expansion Plans
- Looking forward, Manna aims to enhance BRKZ’s service offering by expanding to more markets, including cross-border initiatives in countries like China and India. The goal is to make BRKZ a comprehensive go-to for construction needs in the MENA region.
10. Impact on the Construction Sector
- Since its inception, BRKZ has positively impacted over 850 contractors and played a crucial role in iconic projects such as King Salman Park and Neom. Manna’s leadership has helped modernize a traditionally challenging sector, promoting efficiency, transparency, and growth.
Conclusion
Ibrahim Manna’s entrepreneurial journey with BRKZ showcases the potential to revolutionize traditional industries through innovation and technology. Through his strategic leadership, Manna is fostering a new era of efficiency in the construction sector, aligning with broader economic and environmental goals. BRKZ's continued growth and influence across the MENA region signal a promising future for technological integration in construction procurement.