{"id":578958,"date":"2023-01-19T04:15:08","date_gmt":"2023-01-19T04:15:08","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/19\/dubais-tabby-raises-whopper-usd-58-mn-series-c-round\/"},"modified":"2023-01-19T04:15:08","modified_gmt":"2023-01-19T04:15:08","slug":"dubais-tabby-raises-whopper-usd-58-mn-series-c-round","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/19\/dubais-tabby-raises-whopper-usd-58-mn-series-c-round\/","title":{"rendered":"Dubai\u2019s Tabby raises whopper USD 58 mn series-C round"},"content":{"rendered":"

<\/a> Dubai-based BNPL startup <\/strong>Tabby<\/a><\/strong> has been valued at USD 660 mn after it raised <\/strong>USD 58 mn in a series C funding round<\/strong>, the said in a statement<\/a> yesterday. That makes it one of the most valuable startups in the MENA region.<\/p>\n

The investors: <\/strong>Sequoia Capital India<\/a>, Saudi venture capital firm STV<\/a>, PayPal Ventures \u2014 which made its second MENA investment following its funding of Egyptian fintech startup Paymob<\/a> in May \u2014 Mubadala Investment Capital<\/a>, Arbor Ventures<\/a>, and Endeavor Catalyst<\/a>.<\/p>\n

Egypt knows Tabby:<\/strong> The fintech startup launched in Egypt<\/a> last September after raising USD 275 mn from unspecified global and regional investors. Its office here is headed by finance industry veteran Ahmed Khalil (LinkedIn<\/a>) who in 2015 joined Uber, where he led operations in Egypt and then MENA before being named GM for Egypt.<\/p>\n

Expansion plans:<\/strong> In an interview with Bloomberg<\/a>, Tabby co-founder and CEO Hosam Arab (LinkedIn<\/a>) said the raised funds will be used to expand the firm\u2019s product offering and support its expansion plans, adding that taking Tabby public is \u201csomething that is potentially in the works once optimism does return to the markets.\u201d Tabby plans to tap into the BNPL sector\u2019s potential market of 150 mn users in the region to grow its 3 mn active users. The firm is also on the lookout for potential M&As.<\/p>\n","protected":false},"excerpt":{"rendered":"

Makes it one of the most valuable startups in the MENA region<\/p>\n","protected":false},"author":1,"featured_media":578959,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7258],"tags":[514,72,595,95],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-578958","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-startup-watch","tag-consumer-finance","tag-enterpriseam","tag-non-banking-financial-services","tag-startup-watch","wpautop","entry"],"acf":{"mongo_id":"781ae7fb-8491-4829-843c-24a9388a9b90","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/1\/331.jpg","photo_position":"above","related_issue":[578942],"teaser":"Makes it one of the most valuable startups in the MENA region"},"yoast_head":"\nDubai\u2019s Tabby raises whopper USD 58 mn series-C round - 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The MENA Fintech Fund I has deployed capital in Egyptian digital trucking platform Trella, which this year closed a\u2026","rel":"","context":"In "Startup watch"","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/11\/546.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":567939,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/13\/egypt-ranks-third-in-november-startup-funding-league-table-wamda\/","url_meta":{"origin":578958,"position":1},"title":"Egypt ranks third in November startup funding league table -Wamda","author":"enterpriseam admin","date":"13 December 2020","format":false,"excerpt":"Egyptian startups raised USD 6.6 mn in venture capital funding last month, putting them in third place in MENA behind the UAE and Saudi Arabia, Wamda said in a recent report. Egypt saw nine transactions in November (tying with the UAE in first place), that included creative tech startup Argineering,\u2026","rel":"","context":"In "Startup watch"","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":565441,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/08\/paymob-raises-usd-18-5-mn-series-a-round\/","url_meta":{"origin":578958,"position":2},"title":"Paymob raises USD 18.5 mn series A round","author":"enterpriseam admin","date":"8 April 2021","format":false,"excerpt":"Payment gateway Paymob completed its series A round with USD 18.5 mn raised, the company said in a statement (pdf). Paymob raised USD 15 mn from existing investors in the second tranche of its series A led by UAE-based Global Ventures, A15, and the Dutch entrepreneurial development bank (FMO). 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Mahfouz said in public comments that\u2026","rel":"","context":"In "Startup watch"","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/8\/37.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":575289,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/10\/11\/payroll-management-startup-nowpay-raises-usd-2-1-mn-in-seed-funding\/","url_meta":{"origin":578958,"position":4},"title":"Payroll management startup NowPay raises USD 2.1 mn in seed funding","author":"enterpriseam admin","date":"11 October 2020","format":false,"excerpt":"STARTUP WATCH- Payroll management startup NowPay has raised USD 2.1 mn in seed funding from a group of Egyptian, US, UAE and Chinese investors led by Foundation Ventures and Endure Capital, according to a company statement (pdf). BECOCapital, 500 Startups, Plug and Play, 4dx Ventures, MSA Capital, EFG-EV Fintech, and\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":599781,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/10\/egypt-fastest-growing-startup-market-in-mena-which-raised-usd-893-mn-in-2018\/","url_meta":{"origin":578958,"position":5},"title":"Egypt fastest growing startup market in MENA which raised USD 893 mn in 2018","author":"enterpriseam admin","date":"10 January 2019","format":false,"excerpt":"Is Egypt the fastest growing startup market in MENA? 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