Firm Merak Capital Allocates $1.2 Million Investment in Saudi FinTech Bynow for Upgrading B2B Payment Solutions
Bynow, a fast-growing Saudi-based FinTech company, has secured a $1.2 million investment from Merak Capital. This investment aligns with Merak Capital's strategy of backing fintech platforms that become essential to business operations.
Rami Suliman, CEO of Bynow, believes that this investment is a strong endorsement of Bynow's mission to modernize B2B payments in Saudi Arabia and the MENA region. "We are redefining how businesses manage payments," Suliman said.
Merak Capital, a technology-focused investment firm, is known for its investments in companies such as PayTabs and Tabby, which also aim to modernize B2B payments in the region.
Bynow offers a B2B Buy Now, Pay Later (BNPL) solution that enables companies to defer and split their payments. This solution addresses the challenge of cash flow management for small and medium-sized enterprises (SMEs) and mid-market companies.
The focus of Bynow on reliability, scalability, and innovation in financial technology is in line with the future of financial technology in the Kingdom, according to Merak Capital. Bynow is not just about deferred payments; it aims to build infrastructure-grade rails that digitize receivables and payables end-to-end, enabling businesses to manage cash flow with confidence and transparency.
Abdulelah Alsharif, Vice President of Venture Capital at Merak Capital, believes that Bynow has the potential to become an integral part of how businesses operate in an increasingly digital economy. "We are excited to support Bynow as they expand into broader B2B payment solutions, digitizing and streamlining accounts receivable and payable workflows," Alsharif said.
Bynow's long-term goal is to become a full financial operating system for businesses, offering embedded credit, AR/AP automation, and seamless integrations. With this investment, Bynow, under the guidance of Merak Capital, plans to accelerate its roadmap from deferred payments to a full financial operating system for businesses.
This investment marks another step in the wave of fintech innovation reshaping Saudi Arabia's financial landscape, contributing to a stronger, more resilient ecosystem for businesses of all sizes. Bynow is part of this movement, working towards a future where businesses can operate with confidence and transparency, powered by reliable, scalable, and innovative financial technology.
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