Riyadh – Sharikat Mubasher: barq, a Saudi digital payments company, announced closing a $329.5 million Series A funding round at a valuation of $1.85 billion, marking a major step in its growth since launch.

As per the company’s press release, this round attracted participation from Noon Investments, Sohar International Bank, and M20 Fund, highlighting continued investor interest in barq’s growth and the broader fintech sector in Saudi Arabia.

Founded two years ago, barq has surpassed 15 million users, representing more than 210 nationalities. The company has also processed more than SAR 440 billion in funds through its digital financial services.

The new valuation makes barq one of the fastest companies in the region to reach unicorn status, reflecting the pace of its expansion since launch.

The funding will support barq’s next growth phase by improving operational efficiency, accelerating product development, investing in new financial and technology solutions, and expanding into regional and international markets.