Ayodeji Ayenuwa
Tabby, a buy-now, pay-later (BNPL) platform backed by Mubadala, has successfully concluded a Series D funding round, raising $200 million and achieved unicorn status with a valuation of $1.5 billion.
This marks a significant milestone for the company as it gears up for an anticipated initial public offering (IPO) on the Tadawul stock market.
“With this investment, we can advance our mission across Saudi Arabia and the UAE,” said Hosam Arab, chief executive and co-founder of Tabby.
US-based Wellington Management led this funding round, emphasizing the growing interest in Tabby. Other investors in this round included Hong Kong’s Blue Pool Capital and existing backers like Mubadala Investment Capital, Saudi Arabia’s STV, PayPal Ventures, and Arbor Ventures.
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Tabby has established itself as one of the most valuable startups in the MENA region, managing an annualized transaction volume exceeding $6 billion.
Its success is closely tied to the booming BNPL model, which has gained popularity, driven by the preferences of millennial and Generation Z consumers. The global BNPL market is predicted to continue its growth, reaching $565.8 billion in 2026.
Tabby’s unique profitability in the GCC region sets it apart from many BNPL providers in the United States and Europe, primarily due to its focus on markets with limited access to credit alternatives.
The company serves consumers in regions with low credit card penetration, offering a tokenized payment method that resonates with its user base.
Tabby’s growth and financial stability position it as a key player in the Gulf region’s fintech landscape. Its upcoming IPO on the Tadawul stock market signifies a significant development in reshaping the way people shop, manage their finances, and access credit in the Middle East.
Techrectory with Agency Report.
