Omani digital procurement platform “Safaqat” has secured a new investment round from Oman Future Fund, affiliated with the Oman Investment Authority, and ITHCA Group, signaling growing confidence in national tech ventures and their role in shaping a sustainable digital economy
Founded by four brothers — Majid, Suleiman, Ibrahim, and Al Moatasam Al Saifi from Nizwa — the platform began during the COVID-19 pandemic as a family project for sharing price quotes over messaging apps. It has since evolved into a full-featured procurement platform.
Al Moatasam Al Saifi stated that the new funding will be used to strengthen the platform’s tech infrastructure, enhance user experience, hire national talent, and expand into government services and new regional markets, starting with Saudi Arabia and the UAE.
The platform has reached 2,486 users, published 1,260 tenders, and onboarded 2,784 suppliers, reflecting rapid growth and strong local market trust.
Safaqat has also won multiple awards, including second place in the Oman startup accelerator live pitch event, Best Growth Company, runner-up among Omani e-commerce platforms, and winner of the 2024 “Jadara” initiative led by the Ministry of Transport, Communications and IT.
The platform uses advanced tech tools such as interactive dashboards, alert systems, bid shortlisting algorithms, and real-time reports, and is currently developing AI-powered features for tender analysis and price forecasting — in line with Oman’s digital transformation goals.
