MENA-based BNPL platform Tabby has secured USD 200 million in Series D funding round in order to develop its solutions and expand its offerings. As in the region of Saudi Arabia and UAE clients have restricted access to credit alternatives, Buy Now, Pay Later services are an important source of credit as they also accelerate the development of the market with optimised credit options.

Following this announcement, the company achieved a total valuation of USD 1.5 billion. Tabby aims for its Series D to be the last round of capital before an IPO, as it will continue to provide its partners and customers with its secure and efficient BNPL services at checkout and in-store. In addition, Tabby will also focus on providing optimised tokenised payment methods for its users, as it plans to invest more extensively in its current markets.

This will take place by providing additional solutions that optimise users’ overall financial well-being, including various credit options that extend Tabby’s reach beyond its network of collaborators and services, as well as developing product offerings to encompass a wider range of financial solutions, such as savings or payments. Tabby’s recent strategy of development MENA-based shopping and financial services application Tabby had multiple collaborations and product launches in the last couple of months, covering several different geographic areas around the world. In August 2023, the company announced the launch of its digital shopping assistant, Tabby Shop, aiming to improve the shopping experience of its clients and users.

The Tabby Shope represented a new tool that showcased multiple products from numerous brands in the fashion, electronics, and home categories. The services had several features and offerings, providing clients with the possibility to search for the needed products more securely and efficiently, while also giving them wish listing tools, deals, sale alerts, and more. In addition, Tabby Shop also offered customers the capability to organise their products, discover new ones, as well as track the best deals for the preferred and designed tools, brands, and companies, without the need to switch between multiple shopping applications or websites.

Earlier in the same month, Tabby announced its partnership with Saudi Arabia-based air carrier and low-cost airline flynas in order to extend flexible payment options for travellers. The collaboration was set to introduce a new payment service that enabled customers to pay for their trips in four interest-free payment installments. At the same time, clients were given the opportunity to get their tickets with flexible payments as well.

Throughout this collaboration, both companies focused on making the travel experience more accessible and safe for users, reflecting their effort in optimising and accelerating the digital transformation within the aviator sector. .