Tabby is a financial platform that provides consumers with an opportunity to pay for their online and offline purchases either in a single payment at a later date or in multiple installments. The company seeks to become a credible alternative to cash-on-delivery or cash payments by allowing customers to check out without the need to enter their credit or debit card details while making a purchase.
Tabby has raised $200 million in Series D equity financing at a valuation of $1.5 billion. The new round was led by Wellington Management with participation from growth equity investor Bluepool Capital, in addition to existing investors STV, Mubadala Investment Capital, PayPal Ventures, and Arbor Ventures.
Tabby, Riyadh, Ar Riyad, Saudi Arabia, was founded by Hosam Arab and Daniil Barkalov in 2019. “Tabby set out with a purpose to reshape financial services – one that’s fair and responsible – and with this investment we can advance our mission across Saudi Arabia and the UAE. We’re very happy to have Wellington Management lead this round given their deep expertise in financial services,” said Hosam Arab, CEO and Co-Founder of Tabby.