Beyon and barq Group have signed an agreement under which Beyon Money will become part of barq’s fintech platform.
Beyon and barq Group, the parent company of Saudi-based digital platform barq, which serves more than 15 million users, have agreed to combine Beyon Money’s operations with barq’s fintech platform. Under the terms, Beyon Money will become part of barq, while Beyon will retain an economic interest in barq.
Deal structure and conditions
The transaction remains subject to the completion of final documentation, relevant regulatory approvals, and customary closing conditions. Rather than a full exit, the structure keeps Beyon involved through its economic interest in barq, linking it to the performance of the combined platform. Following completion, Beyon Money will continue to operate and grow within barq’s larger fintech platform.
For existing customers, the companies have indicated that there will be no immediate change. Beyon Money customers can continue to use their accounts and services as usual, and over time are set to gain access to barq’s platform, capabilities, and reach. This approach maintains service continuity while the transaction progresses through the approval process.
Licences and strategic rationale
For barq, the deal brings a licensed fintech operation into its platform. Mohamed Alsabea, Chief of Staff and Chief Strategy Officer at barq, stated that Beyon Money’s licences provide a regulated foundation for barq to build on in new markets, describing the transaction as an important step in the company’s growth. The statement positions the regulatory standing of Beyon Money as a central element of the agreement, alongside its customer base and operations.
From Beyon’s perspective, the transaction reflects its approach to developing digital businesses. Shaikh Mohamed bin Khalifa Al Khalifa, CEO of Beyon Digital Growth, stated that Beyon Money is an example of how the group builds and develops digital businesses with the potential to create long-term value. By folding Beyon Money into a platform serving more than 15 million users while keeping an economic interest in barq, Beyon remains exposed to the business’s future development, with the next step being the regulatory approvals required to close the deal.
