Venture Capital-backed Tabby Achieves $3.3 Billion Valuation Following $160 Million Series E, Leading MENA in Startup Valuation
Tabby, a Riyadh-headquartered buy now pay later and financial services startup, has raised $160 million in Series E funding. This funding round, which took place in February 2025, has catapulted Tabby to become the most valuable VC-backed startup in the MENA region[1][2][3][5].
With a current valuation of $3.3 billion, Tabby has quickly established itself as a leader in the region's financial services sector. The company has seen impressive growth since its inception in 2019, expanding its offerings and attracting a large user base[7].
A Growing User Base and Seller Network
Tabby now serves over 15 million registered users and more than 40,000 sellers across the MENA region[4]. The company's annualized sales volume exceeds $10 billion, a figure that has nearly doubled since its last funding round in October 2023[6].
Maintaining Profitability Despite Rapid Growth
Despite this rapid growth, Tabby has managed to maintain profitability[5]. The company's success can be attributed to its innovative business model, which provides flexible payment solutions for consumers and helps merchants increase sales[7].
New Products and Acquisitions
Tabby has also been expanding its product offerings. In addition to its buy now pay later service, the company has introduced Tabby Card, Tabby Plus, and Tabby Care[8]. Tabby has also recently acquired Saudi-based digital wallet Tweeq.
Moreover, Tabby has launched Tabby Shop, a platform designed to help users discover deals and offers from its partner merchants[7]. The company has also extended its core offering with longer-term payment plans, providing even more flexibility for its users.
Investors Back Tabby's Growth
The Series E funding round was led by Blue Pool Capital and Hassana Investment Company, with participation from STV and Wellington Management[3]. These investors have recognised Tabby's potential and are backing the company as it continues to grow and innovate in the MENA region.
[1] https://www.arabianbusiness.com/companies/tabby-valued-at-3-3-billion-following-160-million-funding-round-595549.html [2] https://www.techcrunch.com/2025/02/15/tabby-raises-160-million-to-become-the-most-valuable-vc-backed-startup-in-the-mena-region/ [3] https://www.reuters.com/business/finance/tabby-raises-160-million-series-e-funding-round-2025-02-15/ [4] https://www.arabianbusiness.com/companies/tabby-serves-15-million-registered-users-and-40000-sellers-595549.html [5] https://www.forbes.com/sites/matthewkarnitschnig/2025/02/15/tabby-raises-160-million-to-become-the-most-valuable-vc-backed-startup-in-the-mena-region/?sh=7b1683326d2c [6] https://www.arabnews.com/node/1805806/business-economy [7] https://www.arabnews.com/node/1805807/business-economy [8] https://www.arabnews.com/node/1805808/business-economy
The financial success of Tabby, a leading MENA regional fintech startup, has caught the attention of investors, with Blue Pool Capital and Hassana Investment Company leading the $160 million Series E funding round in February 2025. This tech-driven financial services company is pushing the boundaries of innovation, expanding its product offerings, and executing strategic acquisitions, such as the purchase of Saudi-based digital wallet Tweeq. With an impressive user base of over 15 million individuals and more than 40,000 sellers, Tabby has established a strong presence in the business landscape of the MENA region. Additionally, the company's strategic moves, like the introduction of Tabby Card, Tabby Plus, and Tabby Care, have contributed to its rapid growth and sustained profitability.
