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Tabby doubles valuation to $3.3B in $160M funding as it looks beyond BNPL and plans IPO
Tabby, the financial services and shopping app, raises $160 million at $3.3 billion, making it the most valuable fintech in MENA.
In developed markets, where credit cards are common, consumers often view buy now, pay later (BNPL) offerings positively because of their flexible installment options. The model is gaining such strong traction that Tabby, one of the region’s pioneers, has now become the most valuable fintech in MENA after securing $160 million in a Series E round at a $3.3 billion valuation. The Riyadh-headquartered fintech, which now supports 40,000+ brands and merchants—including Amazon, Adidas, IKEA, Samsung, and Noon—says expanding its product line has helped grow its user base to 15 million customers across Saudi Arabia, the UAE, and Kuwait, a 50% increase since October 2023.
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