15/09/2026 04:55 AST
Saudi-based fintech firm Tabby has raised $233 million in equity funding, valuing the company at $6.5 billion as it expands its financial services offering.
The new capital will support Tabby's next phase of growth as it expands beyond its buy now, pay later offering into broader financial services in the Kingdom and the UAE.
Blue Pool Capital led the round, with existing shareholders HSG, Wellington Management and Arbor Ventures also participating, according to a statement.
Tabby was founded in the UAE in 2019 and relocated its headquarters to Saudi Arabia in 2023.
That year, it became the Middle East and North Africa's first fintech unicorn after a funding round valued the company at more than $1.5 billion.
Tabby has been profitable since 2023 and now processes more than $18 billion in annualized transaction volume across 25 million registered users and 70,000 business partners.
Saudi fintech sector grows
The expansion comes as the Kingdom's fintech sector continues to grow under the National Fintech Strategy. The number of companies operating in the sector reached 281 in August 2025, up from 82 in 2022, while the strategy targets 525 by 2030.
"We began with a button at an online checkout to help people spread costs over time. Everything since, every product and every licence, has come back to the same idea: people deserve more from their money. This round means we can build further on that, without changing how we think about growth or discipline," Hosam Arab, CEO and co-founder of Tabby, said.
Chief Investment Officer at Blue Pool Capital Christopher Wu said: "Tabby has demonstrated an impressive ability to innovate for their customers, evolving beyond payments to become the trusted platform for millions of people managing, spending and growing their money across the region.
"We are proud of our partnership with Tabby over the past three years, and we are excited to continue supporting the impressive growth of the company with this financing."
New licences broaden offering
The funding round also includes a liquidity option for employees. Since 2023, Tabby has conducted share tenders that have enabled more than $100 million in employee share sales, allowing current and former employees to realize part of the value they helped create.
Over the past year, Tabby has obtained licenses to broaden its financial services for consumers and businesses.
The Saudi Central Bank has granted the company consumer and small and medium-sized enterprise financing licenses, enabling it to provide larger, longer-term financing to consumers and working capital solutions for businesses.
Tabby also acquired Tweeq, a SAMA-licensed digital wallet, expanding its capabilities to include accounts, cards and money transfers.
In the UAE, Tabby obtained a Stored Value Facilities licence from the Central Bank of the UAE, enabling it to launch Tabby Cash as an alternative to a debit account without account or card fees.
The service offers cashback on card purchases and allows customers to make local and international money transfers.
Arab News
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