Tabby closes $200 million Series D at $1.5 billion valuation
Summary
Founded in 2019 in the UAE by Hosam Arab, Tabby is a buy now pay later (BNPL) fintech with over $6 billion in annualised transaction volume. In May, Tabby upsized its debt facility to $350 million after closing a new financing round led by San Francisco-based Partners for Growth (PFG), along with Atalaya Capital Management and CoVenture. Were very happy to have Wellington Management lead this round given their deep expertise in financial services.Abdulrahman Tarabzouni, Founder and CEO of STV, added: Tabby created a new industry and is transforming the way people consume and pay across MENA. Hosam and team built an iconic enterprise that is a reference model in terms of both discipline and disruption; two things that are hard to crack in-tandem. We are excited to see Tabby become an integral part of Saudis fintech landscape, nurturing growth and empowering the broader economy.The company currently has 10 million users and works with over 30,000 brands, including 10 of the largest retail groups in the MENA region.