The funding will be used to expand Tabby’s financial services, which includes digital spending accounts, payment solutions, cards, and money management tools. Credit: T. Schneider/ Shutterstock.

Saudi BNPL player Tabby has secured $160m in a Series E funding round, at a valuation of $3.3bn.  

The investment round was led by Blue Pool Capital and Hassana Investment Company, with STV and Wellington Management also contributing. 

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This funding will be used to speed up the expansion of Tabby’s financial services, which includes digital spending accounts, payment solutions, cards, and money management tools. 

The capital is said to support Tabby as it gears up for an IPO and aims to expand its financial services across the Middle East.  

Tabby CEO and co-founder Hosam Arab said: “This investment allows us to accelerate our rollout of products that make managing money simpler and more rewarding for our customers. 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.” 

Since its last funding round in October 2023, the company is said to have nearly doubled its annualised transaction volumes to over $10bn, and boosted profitability. 

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In September 2024, Tabby acquired digital-wallet operator startup Tweeq, which is licenced by the Saudi Central Bank (SAMA). 

Tabby has also launched several new products and services, such as the Tabby Card for more flexible payment options beyond checkout, Tabby Plus—a subscription programme—and has enhanced its core buy now, pay later service with longer-term payment plans.  

Additionally, the company introduced Tabby Shop to assist users in finding the best deals and Tabby Care, a buyer protection programme. 

Currently, Tabby has over 15 million registered users and over 40,000 sellers, with annualised sales volume that exceeds $10bn.   

Recently, the company was in the news for working with HSBC Holdings, JPMorgan Chase, and Morgan Stanley on a potential listing.