BARQ, Saudi-based Delivery as a Service (DaaS) startup has raised $4 million in its latest funding round. The seed round was 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.
BARQ enables bullet delivery for any business. From e-commerce to food, e-groceries, and various sectors, BARQ utilises its delivery technologies to deliver orders as fast as 15 minutes up to same-day delivery service. With the acceleration of digital transformation, the transition of businesses from retail to online, and increased demand from consumers for a better and faster delivery service, BARQ converts retail outlets to micro-fulfilment centres and dispatching hubs making delivery faster and easier. Once a customer places an order through the business platform, the order gets fulfilled by the closest retail outlet and delivered to the customer once ready for pick up known as Bullet Delivery.
BARQ was founded in 2020 by Abdullah AlShalhoub and Ahmad Habbal.
“We’re on a mission to transform and automate overall business and consumer experience from order creation to delivery. We’ve identified a lot of inefficiencies across our served sectors and started with the toughest last mile,” Co-founder and CEO, Abdullah AlShalhoub commented.
The latest fund will be used to expand the company’s geographic footprint Kingdom-wide and increase product offering to provide a wider range of values to its customers across various sectors.
“Last mile has been a never-ending challenge for businesses. 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,” Co-founder and COO, Ahmad Habbal said.
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