Saudi Fintech Bynow Secures $1.2M to Innovate B2B Payments Across MENA

Saudi fintech Bynow has secured a $1.2 million injection from Merak Capital, money it plans to use for expanding its B2B payment products and deepening its footprint across Saudi Arabia and eventually the wider MENA region. It’s the sort of move that feels very much in sync with the Kingdom’s rapid digital shift under Vision 2030.

At its core, Bynow made a name for itself with a Buy Now, Pay Later (BNPL) model for businesses—essentially giving companies the breathing space to defer or split payments, which can be a lifesaver for SMEs constantly juggling cash flow. What’s interesting now is that it’s not stopping there. The company is also building out digital tools to streamline receivables and payables—two areas that, let’s be honest, often remain a bit of a faff for finance teams who still rely on paper-heavy processes.

Merak Capital’s bet seems to dovetail with their broader strategy of backing what they describe as ‘infrastructure-grade’ fintech solutions, rather than just surface-level tools. Abdulelah Alsharif, Merak’s Vice President of Venture Capital, said Bynow’s real play is in offering flexibility and digital rails that underpin liquidity and growth, not just convenience. That’s spot on if you ask me, because in B2B finance, reliability usually trumps flashiness.

On the flip side, Bynow’s chief, Rami Suliman, painted an ambitious picture—an obsession, as he put it, with stronger risk models, faster payouts, and smoother reconciliation. He wants Bynow to evolve from deferred payments into a full “operating system” for business finance. Embedded credit, automation of accounts, integration with existing systems—it’s a pretty tall order, but the ambition itself reflects how fast fintech expectations are shifting in the Gulf.

From my own experience chatting with startups in Riyadh over coffee, one theme keeps popping up: they want financial services that just work, without the endless paperwork or complicated approval chains. Many founders told me the slow payment cycles with suppliers and clients were the single biggest stress point. So, I reckon Bynow’s push into receivables and payables might actually be the bit that moves the needle more than its original BNPL hook.

That said, global expansion is easier said than done. Plenty of Saudi fintechs eye international growth, but building cross-border trust in B2B finance is another kettle of fish. Still, the timing looks favourable—investor appetite is there, demand is growing, and digital-first solutions are no longer seen as risky experiments but as essential infrastructure.

If Bynow can deliver on even part of this vision, they’ll be chuffed to bits with how things pan out. For the rest of us following MENA’s startup scene—especially here at Arageek—it’s a reminder that the business finance space, often dismissed as dry or boring, is becoming one of the most dynamic testing grounds for innovation. And well… I mean, if someone finally makes B2B payments less of a headache, that’s definately news worth celebrating.

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