Saudi fintech barq has agreed to acquire Bahrain-based Beyon Money in an undisclosed deal, subject to final regulatory approvals. The transaction was announced at the Future FinTech Forum in Manama.
Beyon Money, launched in 2022 under Beyon Group, provides digital money transfers and open banking services in Bahrain. Barq, founded in 2023, is seeking a stronger foothold beyond Saudi Arabia. The source describes the deal as part of barq's broader GCC expansion strategy and its latest step to expand its digital financial services presence across the Gulf.
Beyon Group will retain an economic interest in barq after the transaction, though the size of the stake has not been disclosed. Both companies said Beyon Money's existing services will continue during a gradual transition period.
Financial terms have not been disclosed. No founders were named in the announcement. Key details, including the transaction structure, integration timeline and future product roadmap, remain undisclosed.