Saudi Arabia-based Tabby, the MENA-based financial services and shopping app, has secured $160million in a Series E financing round at a $3.3billion valuation, in a move that cements it as the most valuable fintech in the region.
Since the last funding round in October 2023, Tabby has almost doubled its annualised transaction volumes to over $10billion while growing profitability. The financial services app recently acquired Tweeq, a Saudi-based digital wallet, expanding its product portfolio.
“This investment allows us to accelerate our rollout of products that make managing money simpler and more rewarding for our customers,” explained Hosam Arab, CEO and co-founder at Tabby. “We’re focused on creating tangible impact—helping people take control of their finances with tools that are accessible, effortless and built for their everyday lives.”
It has also introduced the Tabby Card for flexible payments beyond checkout, alongside a new subscription program, Tabby Plus. Additionally, Tabby has evolved its core buy now, pay later offering with longer-term payment plans, Tabby Shop to help users find the best deals, and Tabby Care, a buyer protection programme.
Tabby begins 2025 with more than 15 million registered users and over 40,000 sellers, driving an annualised sales volume of over $10billion.
Bolstering ambitious expansion plans
Tabby revealed it plans to primarily use the funds to accelerate the expansion of its financial services, including digital spending accounts, payments, cards, and money management tools, while advancing Saudi Arabia’s Vision 2030 goals by driving the Kingdom’s cashless economy forward.
Christopher Wu, chief investment officer at Blue Pool Capital, said: “Tabby’s ability to innovate and deliver exceptional products is truly impressive. Their strong revenue growth and operational efficiency sets them apart from other fintech companies globally. We are incredibly excited to support the team on their mission.”
This financing round positions Tabby strongly as it prepares for its upcoming IPO, signalling a pivotal step in its growth journey and reinforcing its ability to deliver the next generation of financial services across the Middle East.
Ahmed Al Qahtani, chief investment officer for regional markets at Hassana Investment Company,also commented: “We are consistently impressed with Tabby’s remarkable ability to execute and build significant momentum in such a short time. Their unwavering dedication to delivering innovative products and solutions to customers reinforces our strong belief in Tabby’s bright future. We are excited to continue our partnership as they redefine the financial services landscape in the region.”
