Tabby has raised USD 233 million from existing investors, as the BNPL provider extends into broader financial services across Saudi Arabia and the UAE.
The Saudi Arabia-based fintech confirmed the Series F equity round, noting that the capital raise coincides with its push beyond instalment payments into consumer financing, business lending, and cash-account products in its two core markets.
The round was led by Blue Pool Capital, a Hong Kong-based investment firm backed by Alibaba co-founder Joe Tsai, with participation from HSG, Wellington Management, and Arbor Ventures. Abu Dhabi sovereign wealth fund Mubadala, an existing Tabby investor, was not listed among the new round's participants but remains a shareholder.
The new valuation marks a substantial increase from the USD 4.5 billion mark Tabby reached after its previous share sale in October 2025. The round included a mix of new and existing shares, with part of the proceeds set aside to provide liquidity to employees.
Licensing expansion in Saudi Arabia and the UAE
Founded in 2019, Tabby has spent the past year obtaining regulatory approvals to widen its product range beyond short-term instalment payments. In Saudi Arabia, the company secured licences enabling it to offer larger and longer-term financing to consumers, alongside working capital facilities for businesses. In the UAE, Tabby was granted a licence to launch a cash product intended to function as an alternative to traditional debit accounts.
CEO and co-founder Hosam Arab said the funding is primarily intended to support deeper expansion within these two markets rather than entry into new geographies.
Tabby currently processes more than USD 18 billion in annualised transaction volume, serving over 25 million registered users. The company works with 70.000 businesses across its markets, including Amazon and fast-fashion retailer Shein among its merchant partners.
Outlook on a potential listing
Regarding the prospect of a public listing, Tabby is set to remain focused on scaling its core business and its newer financial products rather than pursuing an initial public offering on a fixed timeline. The announcement also added that the company is profitable and well capitalised, meaning it does not need to accelerate any listing decision, and that any future listing venue would be chosen based on what best serves the company, its shareholders, and its long-term growth.
The funding round underscores continued investor interest in Gulf-based fintech infrastructure, as BNPL providers in the region diversify into licensed lending and account-based products amid tightening regulatory frameworks in both Saudi Arabia and the UAE.
