MENA’s Leading Fintech Tabby Nets $150M

August 03, 2022 | 2 minutes read

Dubai based Fintech Tabby gathers funding of $150M in Debt financing.

Tabby,  MENA’s  shopping and buy now pay later app has secured investment of $150 million in debt financing from Atalaya Capital Management and existing investor Partners for Growth (PFG).

Hosam Arab, CEO and Co-Founder of Tabby, said:

“Debt commitments from two reputable institutions is validation of our strong track record and business model. As we near profitability, we’re in the fortunate position of not having to raise equity under the current market conditions and as such are thrilled to partner with the like-minded people at PFG and Atalaya.”

fintech startup tabby
CEO Hosam Arab & COO Daniil Barkalov .Image Credits: A digital bloom

This investment will fortify Tabby’s balance sheet and back its product expansion and sustained growth.

Buy Now Pay Later With Tabby:

Being a buy now pay later platform Tabby has no interest or fees and users never have to pay extra when they pay on time. In addition users can link any card and get instant approval-thus making the paying system more efficient.

Tabby Has Grown Exponentially:

Marking this efficacy has also granted the startup with 10x in revenue, 8x in active customers and 3x in active retailer partners in the half of 2022, in comparison to the same period last year. Buy now Pay later has really helped people survive the cost of living crisis in this unprecedented economic crisis all around the world. Subsequently,  also giving birth to a large number of startups for instance webio, and Upbanx etc.

But the MENA market has made Tabby relevant more than ever as Saudi Arabia being the world’s largest economy with less than 20% of the population in possession of credit cards-has made it a much needed solution for consumers to add more flexibility and control over their finances.

With 2 million active users and over 4,000 global brands and small businesses joining its network such as H&M, Adidas, IKEA, SHEIN, and Bloomingdale’s. Right now, Tabby is active in Saudi Arabia, UAE, Egypt, Kuwait and has raised more than $275 million from leading  regional as well as global investors.