Muscat – Omani startup SafaQat, which focuses on digital procurement and supply, has secured new investment from Future Fund of Oman (FFO) and ITHCA Group. Supervised by Authority for Small and Medium Enterprises Development (ASMED), the startup is seen as part of the broader push to build a sustainable digital economy in the sultanate.

Founded by four brothers from Nizwa – Majid, Sulaiman, Ibrahim and Al Moatasem, sons of Mohammed bin Majid al Saifi – SafaQat began as a family initiative during COVID-19 lockdowns.

Al Moatasem said the idea for SafaQat emerged following a trial to use messaging apps to submit price offers. Encouraged by the response, the brothers began developing a prototype, which later evolved into a fully integrated platform.

Each founding member manages a specific area of the business based on their professional background, allowing the project to grow steadily.

Al Moatasem said the main challenges involved building market trust, changing procurement habits and convincing institutions to shift to a digital model. The team responded to market needs by staying flexible, incorporating feedback and refining the platform continuously.

Al Moatasem described the investment from FFO and ITHCA as a strategic step forward, adding that these partners contribute more than just capital. “They believe in investing in the national economy and in empowering Omani youth.”

The new funding will be used to strengthen technical infrastructure, enhance user experience and attract national talent. Plans also include expanding the platform’s services for government entities and entering new regional markets.

SafaQat currently has 2,486 users and has published 1,260 tenders on its platform. It hosts 2,784 registered suppliers and companies. According to Al Moatasem, the growth reflects increasing market confidence in the platform’s role in digitising procurement in Oman.

SafaQat plans to expand into Saudi Arabia and the UAE, positioning itself as a national success story with regional ambitions in digital procurement.