#1- Homegrown fintech company BwaTech raised USD 16 mn (SAR 60 mn) in a funding round led by Sharaka Financial, announced during the Money 20/20 Riyadh, according to a press release published on Thursday. The capital will support the company’s growth plans and strengthen its market footprint in the Kingdom

About Bwatech: Established in 2020 by Rasha Al Oraini (LinkedIn) and Hesham Al Hekail (LinkedIn), the company runs a unified fintech platform that enables businesses to manage bank-backed commitments, accounts, and open banking services. Its offerings are accessible through web and mobile apps, with API integrations that allow seamless links to corporate systems.

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#2- Peer-to-peer lending platform MoneyMoon has secured USD 2.9 mn (SAR 11 mn) in a pre-series A round led by Core Vision, with backing from family offices and angel investors, it said on LinkedIn on Friday. The funding will be used to enhance MoneyMoon’s technology and expand access to instant short-term financing.

About MoneyMoon: Founded in 2023 by Abdulmajeed Alaskar (LinkedIn), the company operates within the Saudi Central Bank’s regulatory sandbox and delivers shariah-compliant peer-to-peer financing through a Murabaha-based model. The platform specializes in short-term lending with instant approvals and flexible investment options, leveraging machine learning to balance fast financing with investor protection.

#3- B2B fintech Bynow secured USD 1.2 mn from Merak Capital to accelerate product development, roll out new tools to automate receivable and payable, and expand across the Kingdom and regional markets, according to a press release published on Thursday.

About Bynow: Founded by Rami Suliman (LinkedIn) and Ahmed Banafa (LinkedIn) in 2022, the startup provides buy now, pay later (BNPL) solutions tailored to businesses, with a particular focus on SMEs looking to improve cash flow. Bynow aims to cut down on manual processes by building automation tools for intercompany payments.

IN OTHER STARTUP NEWS-

Startup investor Value Makers Studio invested in restaurant SaaS platform Ballurh and mental health platform Arab Therapy under its Bridge 2025 program, it said on LinkedIn on Wednesday.

About the companies: Ballurh supports more than 400 restaurants and has processed over SAR 1 bn in transactions, while Arab Therapy — which started in Berlin — now offers therapy sessions and workplace wellness programs in the Kingdom.

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