barq Series A: $329.5M mega-round sets Gulf VC pace
The move: barq closes a USD 329.5 mn Series A
barq raised a USD 329.5 mn Series A in 3Q 2026, making it one of three venture capital rounds above USD 100 mn that pushed quarterly mega-round funding to a record USD 813 mn.
What barq does
barq is a Saudi Arabian digital financial-services and mobile-payments platform serving users with current accounts, domestic and international transfers, payment cards, rewards, and related mobile-app services.
Why the barq Series A matters beyond the Gulf
All six mega-rounds recorded in the first nine months of 2026 were in the UAE or Saudi Arabia, while the two countries together accounted for 68% of regional deals.
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Fintech raised USD 1.7 bn across 93 transactions in the first nine months, representing 58% of regional funding. Four fintech mega-rounds, including barq, accounted for 60% of 9M funding.
MENA-based investors supplied 58% of capital deployed in the first nine months, up from 50% a year earlier, while foreign investors supplied 42%.
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