Feb 12, 06:02 AM

Tabby Raises $160M, Valuation Hits $3.3B, Eyes IPO

Riyadh-based fintech startup Tabby has raised $160 million in a Series E funding round, doubling its valuation to $3.3 billion. The investment, led by Blue Pool Capital and Hassana Investment Company, positions Tabby as the most valuable fintech company in the Middle East and North Africa (MENA) region. The company plans to go public within 18 months, with IPO preparations underway involving HSBC, JPMorgan, and Morgan Stanley, targeting late 2025 or 2026. Tabby, originally a buy now, pay later (BNPL) platform, has expanded its offerings to include digital wallets, flexible payment cards, and the Tabby Plus subscription program. It also acquired Saudi-based digital wallet provider Tweeq. The firm serves over 15 million users and works with 40,000 global brands and merchants, including Amazon, IKEA, and Adidas. Tabby has achieved profitability, with annualized transaction volumes exceeding $10 billion. The funding will support its expansion into broader financial services and remittance markets, aligning with Saudi Arabia's Vision 2030 goals.

#Tabby #Blue Pool Capital #Hassana Investment Company #Middle East #North Africa #HSBC #JPMorgan #Morgan Stanley #BNPL #Tabby Plus #Saudi #Tweeq #Amazon #IKEA #Adidas #Saudi Arabia #Vision 2030

Written with ChatGPT (GPT-4o).

Tabby Raises $160M, Valuation Hits $3.3B, Eyes IPO

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