Tabby, the popular buy now pay later (BNPL) platform, has successfully closed a new financial round, resulting in a significant upsize of its debt facility to $350 million. This represents a doubling of its previous debt capacity and highlights the company’s impressive growth trajectory. The funding round involved prominent global credit investors.
With over four million active customers and partnerships with 15,000 businesses, including the top 10 largest retail groups in the region, Tabby has solidified its position as a leader in the BNPL industry.
Hosam Arab, CEO and Co-Founder of Tabby, expressed his enthusiasm about the partnership with investors Atalaya, CoVenture, and Partners for Growth (PFG), stating that their support will further drive Tabby’s growth and redefine the possibilities of financial management.
The investors also shared their excitement about collaborating with Tabby and recognized the company’s accomplishments in providing financial freedom to consumers. They commended Tabby’s ability to achieve robust growth while improving its financial performance, highlighting its unique position in the market.
Tabby has reshaped the shopping experience in the UAE and Saudi Arabia, empowering customers to embrace financial freedom. The company’s growth and success have been acknowledged by its investors, who have been privileged to witness Tabby’s journey from its early stages to its current expansion.
CoVenture, in particular, expressed its excitement about expanding its investment thesis into the MENA region and emphasized its confidence in Tabby’s management team and their impactful and fast-growing product.
With the increased debt facility, Tabby is well-positioned to continue its expansion and play a significant role in shaping the future of BNPL services in the region.
