Tabby Fintech Raises $160 Million, Becomes Middle East’s Most Valuable Startup
$160 Million Funding Boosts Tabby’s Valuation to $3.3 Billion
Tabby, a leading “buy now pay later” (BNPL) platform in the Middle East, raised $160 million. This financing round propels its valuation to $3.3 billion, making Tabby the region’s most valuable fintech. The funding round was led by Blue Pool Capital and Hassana Investment Company, with additional support from STV and Wellington Management.
Tabby Expands Its Presence in the UAE, Saudi Arabia, and Kuwait
Tabby’s services are available in the UAE, Saudi Arabia, and Kuwait. The BNPL platform allows users to make purchases with 0% interest and pay in installments. Retailers report a surge in demand for BNPL services as shoppers seek flexible spending options.
Focus on Product Innovation and Customer Experience
Tabby plans to use the new funds to accelerate product development. CEO Hosam Arab emphasized the company’s goal of simplifying money management for customers. Tabby aims to provide accessible, effortless tools for everyday financial needs.
Tabby’s Acquisition of Tweeq and Growing Profitability
In October 2023, Tabby completed a previous funding round and began growing profitability. Recently, Tabby acquired Tweeq, a Saudi-based digital wallet, to expand its financial offerings. This acquisition strengthens Tabby’s position in the fintech market.
Expansion into New Fintech Services Likely
Consumer-focused fintech platforms are increasingly diversifying their services into remittances and peer-to-peer transactions. Tabby is exploring new ways to broaden its reach. Despite this, the company has not yet confirmed plans to enter new markets.
Tabby’s Impressive Market Reach and Potential IPO
As of early 2025, Tabby boasts over 15 million registered users and 40,000 retailers. The platform supports annualized sales of over $10 billion. Tabby’s impressive growth makes an eventual IPO a possibility, though no timeline has been set.
Investors Praise Tabby’s Growth and Efficiency
Christopher Wu, Chief Investment Officer at Blue Pool Capital, praised Tabby’s strong revenue growth. He highlighted the company’s operational efficiency, which sets it apart from other global fintech firms. Tabby continues to shape the future of fintech in the Middle East.