Tabby, a buy now, pay later (BNPL) fintech based in Saudi Arabia, has raised $160 million in a Series E funding round at a $3.3 billion valuation.Tabby raises $160m, reportedly enlists banks for IPOBlue Pool Capital and Hassana Investment Company led the round, which also featured additional participation from existing investors STV and Wellington Management.Wellington Management previously spearheaded Tabby’s $200 million Series D in 2023, which saw the company achieve unicorn status with a valuation of $1.5 billion.In the nearly two years since, the fintech claims to have almost doubled its annualised transaction volumes to over $10 billion, while also broadening its product portfolio with a new card offering, subscription programme, buyer protection programme, and longer payment terms for its BNPL service.This expansion has been facilitated by a $700 million debt facility arranged with JP Morgan in late 2023, and more recently, Tabby’s acquisition of digital wallet start-up Tweeq last September.With its Series E now complete, Tabby plans to continue developing its financial services suite with “digital spending accounts, payments, cards and money management tools”, the company says.Furthermore, the fintech adds that the financing “positions Tabby strongly as it prepares for its upcoming IPO”.Bloomberg reported earlier this week that Tabby has enlisted banking giants HSBC, JP Morgan and Morgan Stanley to help support its public listing in Saudi Arabia in late 2025 or 2026, citing sources familiar with the matter.However, the sources reportedly state that the size and timing of this proposed listing are yet to be finalised, with current plans said to be in the early stages of development.Tabby has been contacted by FinTech Futures for comment.
Mer. Feb 12th, 2025
