BNPL platform Tabby secures $200m in Series D funding
By Delisha Fernandes
Tabby, a payments and shopping platform, has secured a $200 million Series D round led by Wellington Management, one of the world’s leading independent investment management firms.
The investment positions the shopping and financial services app as the first FinTech startup unicorn in the region. It highlights its substantial growth and market importance in making the shopping experience more enjoyable and rewarding by enabling everyone to get the things they want with flexibility and freedom. Tabby allows customers to shop now, pay later and earn cash rewards – without interest, fees or debt accumulation.
Tabby aims to reshape financial services with this investment; the company will expand its mission across Saudi Arabia and the UAE. The round drew additional participation from Bluepool Capital, in addition to existing investors STV, Mubadala Capital, PayPal Ventures and Arbor Ventures.
Hosam Arab, Co-Founder and CEO at Tabby, said, ”While I would love to rejoice in our achievement, the events in Gaza over the last 3 weeks have made this very difficult. We continue to bear witness to brutality that has led to the loss of thousands of innocent lives, shattering livelihoods and dreams for generations and the displacement of close to 2 million people. We take pride in what we’ve built but understand it never would have been possible without the unwavering support from our community and partners. I hope we can all unite in a commitment to stand for humanity, advocate for justice and speak up against injustices wherever they exist.”
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December 08, 2023