in ,

Tabby Secures $200 Million in Funding, Hits $1.5 Billion Valuation

Tabby Secures $200 Million in Funding, Hits $1.5 Billion Valuation (PHOTO: Arabian Business)
Tabby Secures $200 Million in Funding, Hits $1.5 Billion Valuation (PHOTO: Arabian Business)

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.

  • ATTENTION: Techrectory gives ₦5,000 monthly to our top readers, CLICK HERE to become a winner.
  • WHATSAPP: CLICK HERE to join the TR News Room WhatsApp group to receive latest updates on your phone!

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.

Techrectory on Google News
See also X Trials $1 Annual Subscription for New Users in Spam-Fighting Initiative

Leave a Reply

Your email address will not be published. Required fields are marked *

What do you think?

Written by Ayodeji Ayenuwa

Well, My name is there already, I'm a student of Adekunle Ajasin University, Akungba Akoko, studying Mass Communication: Public Relations and Advertising.

FG, Labour meeting on 15 point agreement holds next Tuesday

RiseBack Unveils Education Platform to Empower Ethiopian Students (PHOTO: The Education Times)

RiseBack Unveils Education Platform to Empower Ethiopian Students