Tabby is Mena’s most valuable fintech: Riyadh-based BNPL unicorn Tabby raised USD 160 mn in a Series E round, which more than doubled its valuation to USD 3.3 bn, up from USD 1.5 bn, according to a press release. The round was led by Blue Pool Capital and Hassana Investment, with additional backing from STV and Wellington Management.

Use of proceeds: The fresh funds will be used to back Tabby’s rollout of products by expanding their financial services — including digital spending accounts, payments, cards, and money management tools, solidifying the company’s financial position ahead of a planned IPO.

REMEMBER- Tabby reportedly tapped HSBC Holdings, JPMorgan Chase, and Morgan Stanley earlier this month to advise on a potential IPO, with the company targeting a 2025-2026 window. The size of the offering and the exact timeframe are yet to be determined.

What’s Tabby been up to? Since its last funding round in October 2023, Tabby has nearly doubled its annualized transaction volume to over USD 10 bn, the statement reads. The company acquired local digital wallet Tweeq in September, and integrated UAE-based travel tech player Tumodo ’s services into its platform. As of 2025, Tabby has more than 15 mn registered users and over 40k sellers.

On the Mena stage: Tabby and its fellow fintech Tamara dominated Mena’s venturedebt-backed lending in 2023, securing USD 600 mn of the USD 601 mn raised by fintech players, which accounted for 79% of Mena’s total venture debt-backed lending that year. Tabby’s services are also available in the UAE and Kuwait.

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