Tabby has raised USD 233 million in a new equity round that values the fintech at USD 6.5 billion, as the company moves beyond its buy now, pay later roots into a broader suite of financial services.
The round was led by Blue Pool Capital, with participation from HSG, Wellington Management, and Arbor Ventures. It marks another step in Tabby's shift from a checkout-financing tool into a wider financial platform serving customers and businesses across the UAE and Saudi Arabia.
From BNPL to full financial services
Tabby, founded by Hosam Arab and Daniil Barkalov, built its name on letting shoppers split payments at online checkout. The company now says it wants to offer financing, payments, accounts, cards, and money transfers, expanding well past its original product.
In a statement, Tabby said: "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."
Licences in Saudi Arabia and the UAE
The expansion is backed by new regulatory approvals in both of Tabby's core markets. In Saudi Arabia, Tabby obtained consumer and SME finance licenses from the Saudi Central Bank. It has also acquired Tweeq, a SAMA-licensed digital wallet operating in the kingdom.
In the UAE, Tabby secured a Stored Value Facilities license from the Central Bank of the UAE, which allows it to launch Tabby Cash. The product is designed as an alternative to a traditional debit account, with no account or card fees, support for local and international money transfers, and cashback on card spending.
The transaction remains subject to applicable regulatory approvals, including sign-off from the Saudi Central Bank.
What the funding says about Tabby's scale
Tabby currently works with 70,000 business partners across its markets. The company has also run employee share tenders since 2023, which have facilitated more than USD 100 million in share sales, giving staff a route to cash out part of their equity as the company has grown.
For customers in the UAE and Saudi Arabia, the practical effect of this round is a widening of what Tabby offers beyond splitting a bill at checkout. With licenses now in place in both markets, the company is positioning itself to handle a bigger share of everyday financial activity, from holding money to moving it across borders, rather than just financing individual purchases.
The backing from Blue Pool Capital, HSG, Wellington Management, and Arbor Ventures gives Tabby fresh capital to build out that broader ambition, though the final scope of its rollout will depend on the regulatory approvals still pending in Saudi Arabia.
