BuildNow offers a Build Now Pay Later solution specifically for construction manufacturing SMEs, providing immediate funding for raw materials while allowing flexible credit terms tailored to their cash flow needs. This platform enables businesses to acquire necessary materials quickly, reducing project delays and improving financial management by allowing payments to be made over extended periods.
Funding
$9.4M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Small and medium-sized enterprises (SMEs) in the construction and manufacturing sectors often face challenges in securing timely funding for raw materials, which can lead to project delays and hinder their ability to scale operations. Traditional financing options may not align with the unique cash flow needs of these businesses, creating a barrier to growth.
Solution
Aajil provides a "Build Now Pay Later" solution designed to address the financing gaps faced by construction and manufacturing SMEs. The platform offers immediate access to credit for purchasing raw materials, enabling businesses to acquire necessary resources without upfront capital constraints. Aajil facilitates flexible repayment terms tailored to the specific cash flow cycles of SMEs, improving financial management and project execution. By streamlining the procurement process and offering convenient payment options, Aajil empowers SMEs to expand their operations, increase production, and enhance product quality.
Target Audience
Aajil primarily targets construction manufacturing SMEs, suppliers, traders, and contractors seeking flexible financing solutions to manage their working capital and improve project delivery.
Features
- Credit lines up to 2 million Saudi Riyal for raw material procurement
- Flexible repayment plans aligned with project timelines and revenue cycles
- Digital platform for submitting purchase requests to approved suppliers
- Rapid credit approval process with minimal paperwork
- Sharia-compliant financing options
- Integrated platform for tracking orders and managing payments
- Option for suppliers to receive upfront payment, ensuring smooth cash flow