UAE-based BNPL lender Tabby has secured $160 million in Series E funding, pushing its valuation to $3.3 billion, more than double its previous $1.5 billion valuation in 2023. The round was led by Blue Pool Capital and Hassana Investment Company, with support from Wellington Management and STV, positioning Tabby for an anticipated IPO.
Over the past year, Tabby’s annualized transaction volumes have nearly doubled to $10 billion, alongside strong profitability growth. The company has expanded its product lineup with the acquisition of Saudi-based digital wallet Tweeq, the launch of Tabby Card for broader payment flexibility, and Tabby Plus, a subscription program. It has also enhanced its core BNPL offering with longer-term payment plans, Tabby Shop for deal discovery, and Tabby Care, a buyer protection program.
After graduating from the SAMA regulatory sandbox and obtaining its BNPL permit in July 2023, Tabby now serves 15 million users and collaborates with over 40,000 global brands and small businesses. Reports suggest HSBC, JPMorgan, and Morgan Stanley are in discussions with Tabby regarding a potential public offering in Saudi Arabia in late 2025 or 2026.