Tabby raises $160m Series E at $3.3bn valuation ahead of IPO

By Gloria Methri

Tabby has raised $160 million in a Series E financing round, bringing its total valuation to $3.3 billion. The round was led by existing investors Blue Pool Capital and Hassana Investment Company, with additional participation from STV and Wellington Management.

Since its last funding round in October 2023, the financial services app has almost doubled its annualised transaction volumes to over $10 billion while growing profitability. Tabby has also expanded its product portfolio with strategic moves, including the acquisition of the Saudi-zbased digital wallet Tweeq.

The company introduced Tabby Card for flexible payments beyond checkout and Tabby Plus, a subscription program, and enhanced its Buy Now, Pay Later (BNPL) offering with longer-term payment plans. Additionally, Tabby Shop helps users find the best deals, while Tabby Care provides buyer protection.

The new funding will accelerate Tabby’s expansion into broader financial services, including digital spending accounts, payments, cards, and money management tools. It also aligns with Saudi Arabia’s Vision 2030 by advancing the Kingdom’s cashless economy.

This latest financing round strengthens Tabby’s position as it prepares for its upcoming IPO, marking a major milestone in its growth journey and reinforcing its commitment to reshaping financial services across the Middle East.

Hosam Arab, CEO and Co-Founder of Tabby said, “This investment allows us to accelerate our 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, Chief Investment Officer at Blue Pool Capital, said, “Tabby’s ability to innovate and deliver exceptional products is truly impressive. Their strong revenue growth and operational efficiency sets them apart from other fintech companies globally. We are incredibly excited to support the team on their mission.”

Ahmed Al Qahtani, Chief Investment Officer for Regional Markets at Hassana Investment Company, said, “We are consistently impressed with Tabby’s remarkable ability to execute and build significant momentum in such a short time. Their unwavering dedication to delivering innovative products and solutions to customers reinforces our strong belief in Tabby’s bright future. We are excited to continue our partnership as they redefine the financial services landscape in the region.”