Tabby, the MENA region’s leading financial services and shopping app, has raised $160 million in a Series E funding round, solidifying its status as the most valuable fintech company in the region at a $3.3 billion valuation.
The round was led by Blue Pool Capital and Hassana Investment Company, with additional participation from STV and Wellington Management. This latest investment follows Tabby’s impressive growth since its previous funding round in October 2023.
Since its last funding round, Tabby has nearly doubled its annualized transaction volume, surpassing $10 billion, while maintaining strong profitability. The company has significantly expanded its offerings beyond buy now, pay later (BNPL), reflecting a broader shift in consumer financial services.
Tabby’s CEO and Co-Founder, Hosam Arab, highlighted the company’s mission: “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 new funding will be used to accelerate Tabby’s expansion into financial services, including digital spending accounts, payments, cards, and money management tools. Additionally, the company aims to support Saudi Arabia’s Vision 2030 initiative by driving adoption of a cashless economy.
Tabby is also gearing up for a potential initial public offering (IPO), positioning itself for long-term growth as a dominant fintech player in the Middle East.
Founded in 2019, Tabby has rapidly evolved from a BNPL provider to a full-spectrum financial services platform. It recently acquired Saudi-based digital wallet Tweeq, strengthening its portfolio. Other recent innovations include:
With over 15 million registered users and 40,000 global and regional merchants, including SHEIN, Amazon, Adidas, IKEA, H&M, Samsung, and Noon, Tabby continues to scale at a remarkable pace.
Tabby’s strong financial performance and innovation have attracted continued investor confidence. Christopher Wu, Chief Investment Officer at Blue Pool Capital, praised the company’s progress: “Tabby’s ability to innovate and deliver exceptional products is truly impressive. Their strong revenue growth and operational efficiency sets them apart from other fintech companies globally.”
Ahmed Al Qahtani, Chief Investment Officer for Regional Markets at Hassana Investment Company, added: “We are consistently impressed with Tabby’s remarkable ability to execute and build significant momentum in such a short time. Their unwavering dedication to delivering innovative products and solutions to customers reinforces our strong belief in Tabby’s bright future.”
With a clear focus on innovation, financial inclusivity, and regional expansion, Tabby is well-positioned to redefine financial services in the MENA region. As the company moves toward an IPO, investors and industry observers will be watching its next steps closely.
