Saudi Fintech Barq Raises $329.5m Series A at $1.85bn Valuation

Saudi digital payments company barq has closed a $329.5 million Series A funding round at a valuation of $1.85 billion, following rapid growth in its user base and transaction volumes since its launch. The round saw participation from Noon Investments, Sohar International Bank, and M20 Fund. The new valuation places barq among Saudi Arabia’s fintech unicorns and comes around two years after the company launched its services to users.