Oman-based digital procurement startup SafaQat has secured undisclosed strategic funding from the Oman Future Fund and Idrak Group, signaling strong confidence in the country’s tech ecosystem and digital economy growth. Founded in 2020 by four brothers from Nizwa—Majed, Sulaiman, Ibrahim, and Al Moatasem Al Saifi—SafaQat transforms the tendering process by digitizing procurement and purchasing workflows.
Originally launched during COVID-19 lockdowns as a quote-sharing tool, SafaQat has evolved into a comprehensive platform facilitating competitive tenders and supply chain digitization. Supervised by Oman’s SME Development Authority (Riyada), the platform now serves over 2,486 users, hosts 1,260 tenders, and connects 2,784 registered suppliers, establishing itself as a national leader in digital procurement.
Co-founder Al Moatasem Al Saifi described the funding as a “qualitative leap,” emphasizing its role in empowering Omani youth and advancing the nation’s digital future. SafaQat plans to deploy the investment to enhance its AI-powered infrastructure, improve user experience, and expand into government procurement and new markets.
The company aims to develop AI-driven tools for bid analysis and price forecasting while continuing to support local SMEs with training, free onboarding, and community initiatives. SafaQat has earned multiple accolades, including recognition at Jadarah 2024 and the Omani Startup Accelerator, reflecting its growing impact on Oman’s SME and digital sectors.
