UAE and Saudi fintech Tabby soars past $1b in valuation, gets $200m in Series D round ahead of IPO

UAE and Saudi fintech Tabby soars past $1b in valuation, gets $200m in Series D round ahead of IPO

The BNPL consumer financing space continues to grow and widen its incluence across sectors, and propelling pioneers such as Tabby into a full-fledged unicorn.

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Dubai: One of the biggest names in the Gulf’s BNPL (buy now pay later) space, Tabby has raised an additional $20 million, including from Abu Dhabi heavyweight Mubadala Investment Capital and from PayPal Ventures.



The latest fund intake values Tabby at $1.5 billion plaus – and the 'region’s first fintech unicorn'. The company is planning an IPO and listing in Saudi Arabia.







The much-coveted unicorn status is when a startup gets to a $1 billion valuation and makes for a compelling case for a stock market float. Through the last 3 years, Tabby has played its funding rounds quite well, leveraging its clout in a fast-expanding BNPL consumer finance universe.



The buy now pay later process allows consumers to engage in a deal - say, for a gadget or even a jewellery purchase - and then pay it off in months. These are charged at 0 per cent interest, and that's the part consumers covet. More so, as credit card based