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Barq Earns Fintech Award at Money20/20
Bitqare, the FinTech company, received the Money20/20 Global Growth Grid award in recognition of its rapid and remarkable growth since its founding in August 2024. The company achieved record-breaking growth rates, attracting one million users within the first three weeks, reaching 7 million by the end of its first year, and surpassing 15 million users in two years, with total transaction volumes exceeding 440 billion SAR (approximately $120 billion). The company also successfully raised $329.5 million in a Series A investment round, valuing it at $1.85 billion, making it one of the largest firms in the FinTech sector and a unicorn within less than two years of launching its services. Bitqare is actively expanding its digital services, particularly in financing, with regional plans to expand into the Gulf countries and Pakistan. It aims to reach over half a billion dollars in revenue by 2027 and is preparing for an IPO by 2028, aiming to strengthen its regional and global presence and contribute to Saudi Arabia’s Vision 2030 objectives.
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