Riyadh-headquartered buy now pay later and financial services startup Tabby has raised $160 million in Series E funding led by existing investors Blue Pool Capital and Hassana Investment Company, with participation from STV and Wellington Management. The round values Tabby at $3.3 billion, making it the most valuable VC-backed startup in the the MENA region, according to Termsheet.
Founded in 2019, Tabby has rapidly expanded its financial services offerings beyond its initial buy now, pay later product. The company has nearly doubled its annualized transaction volumes to over $10 billion since its last funding round in October 2023, while maintaining profitability.
The fintech startup recently acquired Saudi-based digital wallet Tweeq and introduced several new products including Tabby Card for flexible payments, Tabby Plus subscription program, and Tabby Care for buyer protection. The company has also expanded its core offering with longer-term payment plans and launched Tabby Shop to help users discover deals.
Hosam Arab, CEO and Co-Founder at Tabby, said, “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.”
The company has grown significantly, now serving more than 15 million registered users and over 40,000 sellers across the region, with an annualized sales volume exceeding $10 billion.
Christopher Wu, Chief Investment Officer at Blue Pool Capital, said, “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.”
Tabby plans to use the fresh capital to accelerate the expansion of its financial services portfolio, including digital spending accounts, payments, cards, and money management tools. The funding comes as the company prepares for an upcoming IPO.
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