Barraq Finance Company

Based in Riyadh, Saudi Arabia and founded in 2023, Barraq Finance Company, provides digital wallet, payment, card and money-transfer services for the financial technology space. The company was founded by Ahmed Alenazi (Chief Executive Officer). In September 2026, Barq raised USD 329. 5 million in series A funding from M2O, Noon, Sohar International, and other unspecified investors.

Barq specializes in delivering digital payment and money transfer solutions tailored to meet the needs of its diverse clientele. Its core offerings include a comprehensive suite of tools designed to enhance efficiency and user experience across various sectors, including finance and retail. The company serves a global customer base, providing effective mechanisms for increased productivity and streamlined operations. Revenue generation for Barq is primarily structured around subscription-based models and direct-to-consumer sales.

Corporate clients typically enter into annual agreements for access to essential platforms, while individual consumers can select from tailored service packages. This transactional framework fosters long-term relationships with clients as they scale their engagements based on evolving needs. The company plans to improve operational efficiency, accelerate product development, invest in new financial and technology solutions, and expand into regional and international markets.