Merak Capital has announced a strategic investment of $1.2 million in the Saudi fintech startup Bynow, aiming to accelerate the development of its innovative financial solutions and expand its footprint across the Kingdom and regional markets.
Bynow specializes in Buy Now, Pay Later (BNPL) solutions for businesses, providing companies with enhanced flexibility in managing payments and supporting improved cash flow, particularly for small and medium-sized enterprises (SMEs).
In addition to its BNPL offerings, Bynow is actively developing a broader suite of products, including the automation of accounts receivable and payable, aimed at streamlining intercompany transactions that are frequently managed manually.
Founded in Saudi Arabia amid a wave of fintech innovation, Bynow seeks to enhance payment efficiency between businesses while contributing to the objectives of Saudi Vision 2030, promoting digital transformation and enabling sustainable business growth within a more flexible and transparent financial ecosystem.
