Tabby, the Middle East and North Africa’s leading financial services and shopping app, has raised $160 million in a Series E funding round, bringing its valuation to $3.3 billion—making it the most valuable fintech company in the region. The round was led by Blue Pool Capital and Saudi Arabia’s Hassana Investment Company, alongside existing investors STV and Wellington Management.
Accelerating Growth and Profitability
Since its last funding round in October 2023, Tabby has nearly doubled its annualized transaction volume to over $10 billion while maintaining profitability. This rapid growth underscores the company’s position as a dominant player in the fintech sector.
Expanding Product Portfolio and Financial Services
Tabby has been expanding its offerings, including the acquisition of Saudi-based digital wallet Tweeq and the introduction of new financial tools:
- Tabby Card for flexible payments beyond checkout
- Tabby Plus, a subscription service for exclusive benefits
- Longer-term payment plans
- Tabby Shop for discovering deals
- Tabby Care, a buyer protection program
With the new funding, Tabby aims to enhance its financial services by expanding digital spending accounts, payment solutions, cards, and money management tools.
Strengthening Position for IPO and Saudi Vision 2030
The funding also solidifies Tabby’s position as it prepares for an upcoming IPO and aligns with Saudi Arabia’s Vision 2030, which focuses on transitioning to a cashless economy.
Hosam Arab, Tabby’s CEO and co-founder, highlighted the company’s mission:
"This investment allows us to accelerate the rollout of products that make managing money simpler and more rewarding for our customers. We’re focused on creating tangible impact—helping people take control of their finances with tools that are accessible, effortless, and built for their everyday lives."
Christopher Wu, CIO at Blue Pool Capital, praised Tabby’s innovation and efficiency:
"Tabby’s strong revenue growth and operational efficiency set them apart from other fintechs globally. We’re incredibly excited to support the team on their mission."
Ahmed Al Qahtani, CIO for Regional Markets at Hassana Investment Company, added:
"We’ve been consistently impressed with Tabby’s ability to execute and maintain strong momentum. Their innovative products are redefining financial services in the region."
Tabby’s Expanding Market Reach
The app now serves over 15 million registered users and 40,000 sellers, generating an annualized sales volume exceeding $10 billion.
Additionally, Tabby has been integrated into DubaiPay, the UAE’s unified digital payment platform operated by Digital Dubai and the Department of Finance. This enables round-the-clock deferred payment services, providing citizens, residents, and visitors with flexible installment options to better manage their financial commitments.
With its record-breaking valuation, rapid expansion, and strategic partnerships, Tabby is well on its way to reshaping the region’s fintech landscape.
