- Tabby secures $160 million in Series E funding, reaching a $3.3 billion valuation and positioning itself for an IPO.
- The fintech company plans to expand its financial services, including digital payments, money management, and spending accounts.
- Investor confidence in Tabby remains high, reinforcing its role in advancing Saudi Arabia’s cashless economy and fintech innovation.
Saudi Arabia-based fintech startup Tabby has successfully closed a $160 million Series E funding round, bringing its valuation to an impressive $3.3 billion. The latest funding round, which signals strong investor confidence, was led by existing investors Blue Pool Capital and Hassana Investment Company, with additional participation from STV and Wellington Management.
As the most valuable fintech company in the MENA region, Tabby is preparing for a significant milestone—its initial public offering (IPO). The company plans to use the fresh capital to expand its suite of financial services, including digital spending accounts, payment solutions, and money management tools.
Tabby’s Rapid Growth and Expansion
Since its last funding round in October 2023, when it secured $200 million in Series D funding, Tabby has nearly doubled its annualized transaction volume, now exceeding $10 billion. The company has been scaling its operations rapidly while maintaining profitability, making it a leading player in the buy now, pay later (BNPL) sector.
Tabby recently acquired Tweeq, a Saudi-based digital wallet, further strengthening its product portfolio. In addition, the company introduced the Tabby Card, allowing consumers to make flexible payments beyond checkout, and launched Tabby Plus, a subscription program designed to enhance customer benefits. Other services include Tabby Shop, which helps users find the best deals, and Tabby Care, a buyer protection initiative.
Fueling Saudi Arabia’s Vision 2030
Tabby’s expansion aligns with Saudi Arabia’s Vision 2030 initiative, which aims to create a cashless economy. With this new funding, the fintech firm will accelerate its efforts to advance digital financial services in the region. By providing consumers with accessible and innovative financial solutions, Tabby is contributing to the digital transformation of the MENA region.
Hosam Arab, CEO and Co-Founder of Tabby, expressed his enthusiasm about the company’s growth and future plans. “This investment allows us to accelerate our rollout of products that make managing money simpler and more rewarding for our customers. We’re focused on creating tangible impact—helping people take control of their finances with tools that are accessible, effortless, and built for their everyday lives.”
Investor Confidence and Market Potential
The latest funding round highlights the strong investor confidence in Tabby’s business model and growth trajectory. Christopher Wu, Chief Investment Officer at Blue Pool Capital, praised the company’s ability to innovate and drive strong revenue growth. “Tabby’s ability to innovate and deliver exceptional products is truly impressive. Their strong revenue growth and operational efficiency set them apart from other fintech companies globally. We are incredibly excited to support the team on their mission.”
Ahmed Al Qahtani, Chief Investment Officer for Regional Markets at Hassana Investment Company, also emphasized Tabby’s remarkable execution and momentum. “We are consistently impressed with Tabby’s ability to deliver innovative financial solutions to customers. Their dedication to reshaping the financial services landscape in the region reinforces our confidence in their bright future.”
What’s Next for Tabby?
As Tabby moves forward with its IPO plans, it aims to further solidify its presence in the fintech ecosystem. With over 15 million registered users and more than 40,000 merchant partners, the company is poised for continued expansion. The funds raised will enable Tabby to scale its financial offerings, invest in technological advancements, and enhance its customer experience.
The fintech sector in MENA is experiencing significant growth, and Tabby’s success story reflects the increasing demand for digital financial services. With its ambitious roadmap and strong investor backing, Tabby is well-positioned to redefine the financial landscape in the region.
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