Digital payments company barq closed a Series A worth more than $329.5 million, the largest Series A round in Saudi Arabia and one of the largest fintech rounds in the region, lifting its valuation to $1.85 billion and taking it into the unicorn club. Its wallet has passed 10 million users after reaching 7 million in its first year of operation, a year in which it recorded more than 500 million transactions worth SAR 73 billion and issued more than 6.5 million digital payment cards, while SAMA Governor Ayman Al-Sayari, speaking at Money20/20, said the number of fintech companies reached 371 by the end of August 2026, digital payments made up 85% of total payments in the Kingdom at the end of 2025, and cumulative fintech investment passed SAR 30 billion by the end of H1 2026.
A wallet that processed SAR 73 billion in its first year and is now valued at $1.85 billion demonstrates what happens when a payment app stops being the one people try and becomes a trusted platform for storing funds.
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Expo signs its first venture
Expo 2030 Riyadh signed a SAR 3.2 billion joint venture agreement with Mohammad Al Habib Real Estate Co. to develop and deliver "Expo Village," an integrated residential community and the organiser's first joint venture. The project will comprise 2,300 residential units for about 5,500 residents, directly connected to the Expo 2030 Riyadh site via Expo Station, King Khalid International Airport and Riyadh's transport network.
By choosing a SAR 3.2 billion joint venture instead of a standard construction contract, Expo 2030 Riyadh is sharing development risk with a partner rather than just purchasing a completed building. This approach suggests the village is designed to last beyond the event.
Barq crosses the billion
Digital payments company barq closed a Series A worth more than $329.5 million, the largest Series A round in Saudi Arabia and one of the largest fintech rounds in the region, lifting its valuation to $1.85 billion and taking it into the unicorn club. Its wallet has passed 10 million users after reaching 7 million in its first year of operation, a year in which it recorded more than 500 million transactions worth SAR 73 billion and issued more than 6.5 million digital payment cards, while SAMA Governor Ayman Al-Sayari, speaking at Money20/20, said the number of fintech companies reached 371 by the end of August 2026, digital payments made up 85% of total payments in the Kingdom at the end of 2025, and cumulative fintech investment passed SAR 30 billion by the end of H1 2026.
A wallet that processed SAR 73 billion in its first year and is now valued at $1.85 billion demonstrates what happens when a payment app stops being the one people try and becomes a trusted platform for storing funds.
Brussels clears the path for EA
PIF's consortium set to win EU approval for the $55bn EA take-private — history's largest LBO — merger clearance due 22 July, subsidy review closes 30 July.
The takeaway: $55bn for a games company is the clearest statement yet that entertainment is not a side bet, gaming is a Saudi strategic asset class.
