UAE-based buy now, pay later player Tabby has secured $200 million in Series D funding at a $1.5B valuation, making it the Mena region's first fintech unicorn head of a planned IPO in Saudi Arabia.
The $200M equity round was led by Wellington Management with participation from Bluepool Capital in addition to existing investors STV, Mubadala Investment Capital, Arbor Ventures and PayPal Ventures. The financing fortifies Tabby’s balance sheet to serve demand for its flagship BNPL offering, which now manages over $6 billion in annualised transaction volume. The firm currently has 10 million users and works with over 30,000 brands. Like other large BNPL players, Tabby is extending its product range in a bid to cater for a more rounded shopping experience for its customers.The company reccently launched Tabby Shop, showcasing over 500,000 products from thousands of brands to help shoppers discover and track the best products and deals in one place. Tabby’s use as a payment method in physical stores including Tabby Card is also picking up steam, now reaching over 20% of total volumes.
By on Wed, 01 Nov 2023 09:53:00 GMT
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