The fresh funding will be allocated towards expanding its geographic scope in KSA and diversifying its product offering to cater to a wider customer base across various sectors.
Q-commerce took center stage last year, with the Transport & Logistics (T&L) sector climbing up the ranks in tandem to become MENA’s second most funded sector. A number of delivery companies are racing to develop the fastest and most efficient fulfillment services and vying to keep up with the acceleration of digital transformation. A Saudi-based Delivery as a Service (DaaS) startup, BARQ, is making strides in the delivery space, successfully raising $4 million in a seed round led by OTF Jasoor Ventures and Hambro Perks Oryx Fund, with participation from Sultan Holding, Saudi Venture Capital Company (SVC), as well as strategic family offices and angel investors.
The fresh funding will be allocated towards expanding its geographic scope in KSA and diversifying its product offering to cater to a wider customer base across various sectors. Since its founding in 2020, BARQ has set out to provide speedy bullet delivery services for businesses of all sizes.
Founded by former strategy consultants, Ahmad Habbal and Abdullah AlShalhoub, BARQ marks the beginning of their entrepreneurial path together. Borrowing from their extensive industry experience, the duo was able to develop an innovative and optimized supply model. “Last mile has been a never-ending challenge for businesses,” says Habbal, who also serves as COO. “With our multi-vertical and flexible supply model, we’ve been able to increase efficiencies, ensure sustainability, and complement rather than compete with other players.”
Avidly refining and updating its technology, BARQ is able to offer expedited delivery as fast as 15 minutes. This is made possible by the startup’s strategy to convert retail outlets into micro-fulfillment centers or dispatching hubs. BARQ offers a wide range of delivery services from 15 minutes to next-day depending upon the business.
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