SafaQat is an Omani startup specialized in digital procurement and purchasing. Established in 2020 by the Al Saifi brothers—Majed, Sulaiman, Ibrahim, and Al Moatasem—during COVID-19 lockdowns, it has since become a prominent platform in the regional procurement landscape. Based in Oman, SafaQat aims to digitize the tendering process, enhancing efficiency for users and suppliers. It has gained significant backing, having recently attracted undisclosed financial support from the Oman Future Fund and the Idrak Group, a testament to its growing influence in the digital economy.
| Attribute | Information |
|---|---|
| Founding Date | 2020 |
| Headquarters | Oman |
| Founders | Majed, Sulaiman, Ibrahim, and Al Moatasem Al Saifi |
| Key Investors | Oman Future Fund, Idrak Group |
| Industry | Digital Procurement and Purchasing |
| Number of Employees | Not specified |
SafaQat was born out of a necessity to adapt to the challenges posed by the COVID-19 pandemic. Founded in 2020 by four brothers from Nizwa, Oman, the company initially focused on digitizing the tendering process to help SMEs navigate the complex procurement landscape. The startup gained early traction by offering a platform that streamlined procurement procedures, making it easier for businesses to both issue and respond to tenders efficiently. The founders recognized the potential in digital transformation and positioned SafaQat as a leader in Oman's digital economy by quickly adapting to market needs and leveraging government support through Riyada.
Since its inception, SafaQat has distinguished itself in the procurement sector by championing innovative solutions that simplify the tendering process. Key achievements include:
SafaQat currently operates as a key player in the digital procurement industry, primarily in Oman, with aspirations to expand beyond national boundaries. The platform's AI-powered solutions aim to streamline and innovate procurement practices, putting it at the forefront of digital transformation in the Middle East. With the new funding, SafaQat is set to enhance its technological capabilities and user offerings, further cementing its position as an industry leader.
SafaQat has carved a niche for itself in the world of digital procurement through strategic innovation and investment. With substantial local and international backing, it stands on the cusp of significant growth and expansion. As it continues to develop its AI-powered tools and nurture strategic partnerships, SafaQat positions itself as a pivotal force in the digital transformation landscape, promising to revolutionize procurement industries across national and regional markets.