Tabby secures $150mln credit facility from Atalaya Capital Management and Partners for Growth

Tabby secures $150mln credit facility from Atalaya Capital Management and Partners for Growth

Dubai, United Arab Emirates: Tabby, MENA’s leading payments and shopping app, has secured $150 million in debt financing from Atalaya Capital Management and existing investor Partners for Growth (PFG).

Headquartered in New York, this facility marks Atalaya Capital Management’s first deal in the MENA region. In addition, San Francisco Bay Area based Partners for Growth (PFG), have upsized their initial $50M commitment under the new facility. In aggregate, this represents the largest credit facility ever secured by a fintech in the GCC. Following Tabby’s Series B extension earlier this year, Tabby’s total capital raised to date amounts to $275 million.

The investment fortifies Tabby’s balance sheet and supports its sustained growth in transaction volumes and product expansion. In the last few months, major brands like H&M, Bath & Body Works, Nike, Swarovski and more have chosen Tabby as their payments partner. Tabby will continue to provide MENA’s consumers with access to credit otherwise unavailable to them, without charging any interest or other fees.

In May, Tabby announced the launch of Tabby Card, a first-of-its-kind solution in MENA tapping into 90% of the retail opportunity that happens offline.

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