The Omani startup platform SafaQat or ‘Deals’ which specialises in digital purchasing and procurement has successfully completed a funding round with Future Fund Oman and the Idrak Group. This move reflects growing confidence in national technology projects and their ability to contribute to building a sustainable digital economy. SafaQat is supervised by the SME Development Authority ‘Riyada’.

SafaQat is a pioneering joint venture founded by four brothers from the Wilayat of Nizwa: Majed bin Majed Al Saifi, Sulaiman bin Majed Al Saifi, Ibrahim bin Majed Al Saifi and Al Moatasem bin Majed Al Saifi. The family partnership was established during the COVID-19 pandemic lockdowns.

Al Moatasem, one of the founders, explained that the idea originated from a simple experience of sharing price quotes via messaging apps, which confirmed the market’s readiness for competitive digital models. The brothers then began developing a prototype that evolved into a fully integrated platform.

He noted that the project’s launch was built on their cumulative expertise, particularly in the tendering sector. He affirmed that each brother managed a specific aspect of the platform according to his specialisation, which contributed to its steady and professional growth. He emphasised that the project’s success came after overcoming several challenges related to building trust, changing market behaviors, and convincing institutions to use the platform.

He stated that the solutions involved flexibility, listening to feedback, and developing the system as needed.

Al Moatasem explained that the investment partnership with Oman Future Fund and Idrak Group represents a qualitative leap for the platform. He pointed out that these entities do not just provide financial support; they believe in the importance of investing in the future of the national economy and empowering Omani youth.

He added that the investment will be allocated to developing the technical infrastructure, improving user experience, attracting national talent, expanding into government services, and preparing to enter new markets.

Al Saifi mentioned that the number of SafaQat app users has reached 2,486, while the number of tenders and opportunities published on the platform has reached 1,260. The number of registered suppliers and companies stands at 2,784. He affirmed that these figures reflect rapid growth and increasing confidence from the local market, reinforcing the platform’s position as an effective national platform for digitising procurement and supply chain operations.

The SafaQat platform has earned several awards and recognitions, including second place in the live pitches at the Omani Startup Accelerator, the Best Growing Company in the Market award, a second-place ranking among Omani e-commerce stores, and a win in the “Jadarah 2024” initiative.

The platform has participated in numerous local and international forums, including Comex 2024, the Economic Vision 2024 award, and represented Oman at international exhibitions such as Biban 24 in Riyadh, Web Summit in Doha, and LEAP 25 in Saudi Arabia.

SafaQat utilises smart technologies, including interactive dashboards, alert systems, bid-sorting algorithms, and real-time reports. It is currently working on developing AI-powered tools for analysing bids and forecasting prices, in line with digital transformation trends.

On the community side, the platform launched an initiative to train job seekers as sales representatives through practical online training content, aiming to empower youth and create self-employment opportunities. It also supports small and medium enterprises with free registration, technical support, and awareness campaigns.