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Saudi Electricity Secures $1.85B Investment
Baraq, a company licensed by the Saudi Central Bank, has completed a Series A funding round totaling approximately $329.5 million, valuing the company at $1.85 billion. It also announced a partnership with Mastercard to develop more efficient and flexible digital payment and financial services solutions, with a focus on improving the user experience and catering to the evolving needs of the Saudi payments market. This investment comes amid rapid growth in the Kingdom’s payments sector, as major companies work to strengthen their digital presence and introduce innovative financial solutions.
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