Tabby becomes MENA's most valuable fintech: Homegrown — and now Riyadh-based — BNPL unicorn Tabby raised USD 160 mn in a Series E round, boosting its valuation to USD 3.3 bn — more than double its previous valuation of 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. The latest funding round makes Tabby the highest valued fintech in the region, the statement said.

Use of proceeds: The fresh funds will be used to accelerate 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 — first announced in September — targeting a 2025-2026 window. The size of the offer and the 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.

Tabby has been dominating funding on the MENA stage: Tabby and 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 currently available in the UAE, Saudi Arabia and Kuwait.

Tags: