Tabby raises $233m at $6.5bn valuation as it expands beyond
Saudi-based fintech firm Tabby has raised $233 million in a new equity round that values the company at $6.5 billion, as it moves beyond its buy now, pay later origins to build a broader financial services platform across Saudi Arabia and the UAE.
Blue Pool Capital led the round, with existing shareholders HSG, Wellington Management and Arbor Ventures also participating. The capital will fund Tabby's next phase of growth as it rolls out consumer financing, business lending and digital wallet services following a series of new regulatory licences.
"We began with a button at an online checkout to help people spread costs over time. Everything since has come back to the same idea: people deserve more from their money. This round means we can build further on that, without changing how we think about growth or discipline," said Hosam Arab, CEO and co-founder of Tabby.
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Muhammad Ali Bandial