• Home
• News

Middle Eastern fintech unicorn Tabby has successfully closed a $233 million funding round, elevating its valuation to $6.5 billion. The round was led by Blue Pool Capital, with participation from HSG, Wellington Management, and Arbor Ventures. The fresh capital injection is earmarked to finance Tabby's strategic evolution from a pure-play Buy Now, Pay Later (BNPL) provider into a comprehensive financial services platform across Saudi Arabia and the United Arab Emirates.

The closure of the transaction remains subject to customary regulatory approvals, including final clearance from the Saudi Central Bank (SAMA).

Financial and Operational Milestones

Demonstrating sustainable growth, Tabby reported that it has maintained profitability since 2023. The platform's scale has grown significantly, currently processing an annualized transaction volume exceeding $18 billion across an ecosystem comprising 25 million registered users and 70,000 merchant partners.

Strategic Expansion & Regulatory Milestones

Over the past year, Tabby has aggressively pursued regulatory licenses to diversify its consumer and enterprise product suites, transitioning toward holistic money management:

Saudi Arabia (KSA):

Credit & Lending: Secured SAMA licenses for both consumer and SME financing, allowing the company to introduce higher-limit, longer-tenor credit products and working capital solutions for merchants.

Digital Banking Capabilities: Acquired the SAMA-licensed digital wallet Tweeq, expanding Tabby's infrastructure to offer integrated bank accounts, payment cards, and remittance services.

United Arab Emirates (UAE):

Tabby Cash Rollout: Granted a Stored Value Facilities (SVF) license by the UAE Central Bank, paving the way for the launch of Tabby Cash. Positioned as a fee-free alternative to traditional debit accounts, the service will offer cashback incentives on card transactions alongside domestic and international money transfer capabilities.

Executive Outlook

Hosam Arab, CEO and Co-founder of Tabby, emphasized that the funding aligns with a unified vision to offer clients greater value in managing their finances, maintaining that the capital will support growth without compromising financial discipline. Christopher Wu, CIO of Blue Pool Capital, highlighted the firm’s successful transition from a specialized payment gateway into a trusted, multi-vertical financial platform for millions across the region.