Merak Capital is thrilled to announce its lead in the Pre-Series A investment round for Lawazem, a pioneering Business-to-Business (B2B) marketplace, designed to streamline operational procurement, office supplies, and related products and services. This investment round has successfully raised SAR 30 million (approximately USD 8 million), marking a milestone in Lawazem’s journey to revolutionize procurement and supply chain management in the business sector.
Founded in 2020 by Abdulhakim Albisher and Nasser Alshaya, who bring over two decades of combined expertise in procurement, contract management, and information technology, Lawazem has positioned itself as a leader in addressing the complex needs of operational procurement for businesses across the region.
This new injection of capital, led by Merak Capital along with the participation of other investors, is set to elevate Lawazem’s strategic expansion within the Kingdom of Saudi Arabia and beyond. The company aims to broaden its reach, targeting an increasing number of companies and institutions with its innovative solutions.
Abdulhakim Albisher, CEO at Lawazem commented: “We’re at a transformative stage in Lawazem’s evolution, and this investment round arrives at a crucial juncture. Our vision is to transcend traditional e-Commerce boundaries by introducing a suite of comprehensive products and services. We aim to establish Lawazem as the quintessential ‘Super App’ for office and business needs, encompassing daily business purchases, on-the-go retail (‘Street-buying’), specialized Micro-services, and innovative Supplies Financing options, among others.”
“Our decision to invest in Lawazem stems from our confidence in its potential to redefine procurement practices. We believe that this venture will offer substantial value to local governments and corporations, helping them to achieve significant cost savings while also enhancing the quality of their procurement decisions.
At Merak Capital, we are committed to supporting ventures that not only promise a strong return on investment but also drive innovation and improvement in their respective industries. Lawazem perfectly aligns with this vision, and we are proud to be a part of its journey towards transforming the procurement landscape.” said Othman Alhokail, Partner at Merak Capital.
This strategic funding will enable Lawazem to further develop its technology platform, expand its product and service offerings, and strengthen its position as a market leader in the B2B sector. By leveraging cutting-edge technology and deep market insights, Lawazem is well-equipped to meet the evolving needs of businesses in the region, offering efficient, reliable, and cost-effective procurement solutions.
Merak Capital is committed to fostering innovation and growth in the technology sector, supporting visionary entrepreneurs and companies like Lawazem that are poised to make a significant impact on their industries.
