Riyadh - Mubasher: Merak Capital has invested $1.20 million in Saudi fintech Bynow to boost product development and regional expansion.

The funding will allow Bynow to streamline business-to-business (B2B) payments in line with Saudi Vision 2030 digital transformation goals, according to a press release.

Founded in 2022 by Rami Suliman and Ahmed Banafa, the fintech provides buy now, pay later (BNPL) solutions for businesses, helping companies, especially SMEs, manage payments more flexibly and improve cash flow.

Moreover, the firm is creating products to automate accounts receivable and payable, reducing reliance on manual processes in intercompany transactions.