Merak Capital invests $1.2 million in Saudi fintech Bynow
- Bynow, a Saudi B2B fintech startup, has raised $1.2 million from Merak Capital to accelerate product development and expand regionally.
- Founded in 2022 by Rami Suliman and Ahmed Banafa, Bynow provides BNPL solutions for businesses to improve cash flow, with a focus on SMEs, and is building tools to automate accounts receivable and payable processes.
- The funding supports Bynow’s goal of streamlining B2B payments and advancing Vision 2030 digital transformation objectives.
Press release:
Merak Capital has invested $1.2 million in Saudi fintech startup Bynow to accelerate product development and expand its presence in the Kingdom and regional markets.
Bynow offers buy now, pay later (BNPL) solutions for businesses, giving companies more flexibility in managing payments and improving cash flows — particularly for SMEs.
The company is also developing broader products for automating accounts receivable and payable, aiming to simplify intercompany payment processes that are often handled manually.
Founded in Saudi Arabia as part of the country’s fintech innovation wave, Bynow is working to enhance B2B payment efficiency and support Vision 2030 objectives for digital transformation and business growth within a more agile and transparent financial ecosystem.