UAE-based FinTech Tabby raises $7m to fuel growth and Saudi Arabia expansion – The National

UAE-based FinTech Tabby raises $7m to fuel growth and Saudi Arabia expansion – The National

UAE-based FinTech Tabby raises $7m to fuel growth and Saudi Arabia expansion. The e-commerce site offering 'buy now, pay later' services also added Apparel Group to its 20-plus retail partners. Tabby, a UAE-based FinTech start-up offering "buy now, pay later" services on e-commerce purchases, secured $7 million (Dh25.7m) to fund further growth and expand to Saudi Arabia, the company said on Monday.. The funding round was led by Saudi Arabia's Raed Ventures with participation from China's MSA Capital and existing investor Arbor Ventures, and follows a $2m seed funding round in November.. Tabby allows customers to purchase products online using only their mobile phone number and email address.. "We are very pleased to bring our best-in-market solution to Saudi Arabia at a time when consumers and merchants alike will be strapped for cash," said Hosam Arab, co-founder and chief executive of Tabby.. Online retailers have seen sales soar in recent months since business closures and lockdowns began.. Mr Arab, previously co-founder and chief executive of online retail site Namshi, started Tabby in 2019 and the site went live in February.. The company has partnered with over 20 e-commerce retailers on its site, including Abdul Samad Al Qurashi in the beauty