Saudi Arabia-based fintech company BuildNow has raised US$10 million in funding through a combination of debt and non-dilutive equity.

The financial support was provided by Arbah Capital and STV.

In addition, BuildNow has partnered with Joa Capital to create the Joa Infrastructure Fund I, an US$80 million trade finance initiative.

This fund aims to offer fixed dividend trade financing.

BuildNow specializes in delivering buy now, pay later (BNPL) solutions for small and medium-sized enterprises (SMEs) seeking credit for material procurement with flexible payment options.