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2 clusters · 3 sources · 10 days · First seen · Last updated

Middle East fintech expansion by Tabby

Overview

Middle East fintech company Tabby has raised $233 million in a new equity round, reaching a valuation of $6.5 billion. The funding, led by Blue Pool Capital, is intended to facilitate the company’s expansion from buy now, pay later (BNPL) services into a broader digital financial services platform.

Tabby plans to grow its credit and money management offerings in Saudi Arabia and the United Arab Emirates. In Saudi Arabia, the company has secured consumer and SME finance licences from the Saudi Central Bank and acquired the digital wallet Tweeq. In the UAE, Tabby has obtained a Stored Value Facilities licence, allowing for the launch of Tabby Cash, which provides spending accounts, cards, and cashback features.

Entities

Central Bank of the UAE · Network International · GCC · Saudi Central Bank · PayTabs

Timeline

  1. [BUSINESS] 2 sources
    Tabby raises $233 million to expand fintech services in Middle East

    Fintech firm Tabby raised $233 million at a $6.5 billion valuation to expand its digital financial services and money management tools across Saudi Arabia and the UAE.

  2. [BUSINESS] 2 sources
    PayTabs to acquire Amazon Payment Services' MENA operations

    Saudi fintech PayTabs has reportedly agreed to acquire Amazon Payment Services’ MENA operations for over $100 million, aiming to process up to $40 billion in annual transactions.

Sources

arabianreseller.com · gulfnews.com · tbreak.com