barq Closes $329.5M Series A at $1.85B Valuation

Saudi digital payments company barq closed a Series A funding round of about $329.5 million on 15 September 2026, valuing the company at $1.85 billion. The round was reported in Saudi Arabia and is described as the largest Series A ever raised in the Kingdom and one of the region's major fintech deals.

The investment brought together Noon Investments, Sohar International Bank, and the M20 Fund. barq operates as a digital payments provider, and the fresh capital is set to support its expansion plans.

barq now serves more than 15 million users and has processed over SAR 440 billion in payments, underscoring its scale in a fast-growing financial technology market.

Why it matters

For residents and expats across the Kingdom, the milestone reflects the rapid maturity of Saudi Arabia's digital finance sector, where mobile-first payment services have become part of everyday life. A round of this size signals investor confidence in home-grown fintech and points to continued innovation in how people send, receive, and manage money.

The deal also highlights the broader momentum behind Saudi Arabia's technology ecosystem, as the Kingdom continues to attract significant capital into locally built companies serving millions of users.

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