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Saudi-based fintech company Tabby has raised $233 million in its latest equity funding round, lifting its valuation to $6.5 billion as it prepares to expand its financial services beyond buy now, pay later (BNPL).
The funding round was led by Blue Pool Capital and supported by existing investors, including HSG, Wellington Capital Management and Arbor Ventures.
Tabby said the fresh capital would support its next phase of growth and help broaden its product offering as it develops into a more comprehensive financial services platform.
Tabby expands beyond BNPL
The company began as a buy now, pay later provider, allowing customers to spread payments over time. Its latest fundraising signals an ambition to move beyond its original model and offer a wider range of financial products.
“We began with a button at an online checkout to help people spread costs over time,” said Hosam Arab, Tabby’s CEO and co-founder.
“Everything since, every product and every licence, has come back to the same idea: people deserve more from their money. This round means we can build further on that, without changing how we think about growth or discipline.”
From UAE startup to regional unicorn
Tabby was founded in the United Arab Emirates in 2019 before relocating its headquarters to Saudi Arabia in 2023.
That same year, the company became the first unicorn in the Middle East and North Africa region after reaching a valuation of $1.5 billion.
The latest funding round represents a substantial increase in the company’s valuation and reflects investor confidence in the growth potential of fintech and digital financial services across the region.
With the new capital, Tabby is expected to strengthen its market position, expand its financial product portfolio and build on its existing customer and merchant ecosystem as it moves into its next stage of development.
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