barq
A Saudi digital wallet for local and international transfers and cards, used by citizens and residents of more than 210 nationalities
Barq is a Riyadh-based Saudi digital wallet, founded in 2023 and launched in July 2024. In September 2026 it raised a $329.5 million Series A round at a $1.85 billion valuation.
What does barq do?
Ahmed Alenazi, the former CEO of stc pay, founded Barq in January 2023, and it received an e-wallet license from the Saudi Central Bank in January 2024. The app offers local and international transfers, Visa and mada cards, and bill splitting, and it reached one million users within 21 days of launch, according to the company. In September 2026 it raised $329.5 million at a $1.85 billion valuation, and Al Eqtisadiah described it as the largest Series A round in Saudi history.
Products
A digital wallet for local and international transfers and instant wallet-to-wallet transfers, with virtual and physical Visa and mada cards
Accounts and cards for small and medium businesses, plus payroll and payments
Key features
- International transfers through a partnership with Thunes
- Virtual and physical Visa and mada cards
- Bill splitting among friends (Qattah)
- Payments through Alipay+ codes in more than 220 markets
- Most of Barq's figures come from company announcements and are unaudited
- Noon Investments is among the Series A investors, and the Public Investment Fund (PIF) was a 50% partner in Noon when it launched in 2016. There is nothing confirming a direct PIF stake in Barq
- In October 2026 Barq signed a binding agreement to bring in Bahrain's Beyon Money in exchange for a stake in Barq. The deal is pending regulatory approvals
- Barq received only preliminary approval from the State Bank of Pakistan in October 2025, and its launch there was not completed
The documentary
Funding rounds
| Round | Date | Amount | Lead | Investors | Source |
|---|---|---|---|---|---|
| Series AValued at $1.9B | September 2026 | $329.5M | Undisclosed | Noon Investments, Sohar International Bank, M20 Fund | Source |
Key investors
Founders
Common questions about barq
When was Barq founded?
It was founded in January 2023, and its app launched to the public in July 2024.
Who founded Barq?
Ahmed Alenazi, the former CEO of stc pay.
How much has Barq raised?
It raised $329.5 million in a Series A round in September 2026, from Noon Investments, Sohar International Bank and M20 Fund.
Is Barq a unicorn?
Yes. It was valued at $1.85 billion in the September 2026 round.