Tabby, the rising star of fintech in the Middle East, has just reached a major milestone by raising $160 million in a Series E funding round, propelling its valuation to an impressive $3.3 billion. This achievement places Tabby in a strong position as it prepares for an imminent initial public offering. Innovating in the Buy Now, Pay Later space, Tabby has captured attention due to its rapid growth and commitment to transforming personal finance management. This new funding will allow it to accelerate its expansion and realize its ambitions in an increasingly competitive market.
Tabby at the top with a valuation of $3.3 billion
The Saudi fintech Tabby, now firmly established as one of the most valuable in the MENA region, has marked a turning point by raising $160 million in a Series E funding round. This recent achievement has propelled the company to an impressive valuation of $3.3 billion, making it the most valuable fintech in the Middle East and North Africa. This fundraising was led by major investment names, such as Blue Pool Capital and Hassana Investment Co. With this financial support, Tabby is already eyeing significant expansion and an imminent IPO, while continuing its incredible progress in the financial technology sector.
A diverse offering that appeals to investors and consumers
Tabby does not solely rely on its Buy Now, Pay Later (BNPL) model. In fact, the company has expanded its product range to include options such as the Tabby Card, allowing for flexible payments, and the subscription program Tabby Plus. Following the recent acquisition of Tweeq, a Saudi digital wallet, Tabby continues its diversification by now offering money management tools. Its enhanced portfolio allows users to benefit from simple and rewarding financial management solutions.
Tabby’s path towards an IPO and aggressive growth
The newly acquired funding will primarily be used to further expand the reach of Tabby and prepare for an initial public offering. This crucial step underscores the importance of raising significant funds to enable rapid expansion and the launch of innovative products. Tabby intends to invest in digital accounts, management tools, and in adopting the Vision 2030 of Saudi Arabia to drive the cashless economy. Supported by loyal investors such as Christopher Wu of Blue Pool Capital, Tabby is committed to providing the next generation of financial services in the MENA region by revolutionizing how people manage and use their money daily.
