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Baraq completes $329.5M Series A funding
Al Barq Digital Payments has closed a Series A funding round worth $329.5 million, raising its valuation to $1.85 billion. Participants included companies such as Noon Investments, Bank Sohar International, and M20 Fund. This round comes amid rapid growth for the company, which has surpassed 15 million users from over 210 nationalities in just two years, with transaction volumes exceeding 440 billion riyals, reflecting the expansion of its digital financial services. The funding will support the next phase of growth by enhancing efficiency, developing new products, and expanding regionally and globally, all within a supportive digital and regulatory environment in Saudi Arabia in line with Vision 2030.
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