We are co-leading with Sequoia Capital a $54m investment round in tabby, MENA’s leading Buy Now Pay Later provider.
Ever since our initial investment in 2020, we have been strong believers in the potential of e-commerce and credit digitization in MENA, as well as the ability of the tabby team to enable buyers and merchants across the region.
Last year, we announced our participation in tabby’s Series B round as a co-lead investor. Today, we are proud to strengthen our relationship with the company and to support international expansion and product rollout by co-leading a new $54m round.
tabby has unlocked partnerships with more than 3,000 integrated merchants including global brands such as SHEIN, Adidas, and IKEA, as well as blue-chip regional retail groups like Majid Al Futtaim, Landmark, and Chalhoub Group, allowing more than 1 million active customers, mainly in Saudi Arabia and the UAE, to benefit from their Installment and Pay Later services, merchant directory, and cashback program.
Our investment today reiterates our conviction in BNPL in MENA, and tabby as a market leader. We are proud of our partnership with Hosam, Daniil, and we are strong believers that the company will continue driving BNPL’s growth across the region, on the back of rapid switch to contactless payments, e-commerce growth, and remarkable product vision and team.
This round brings the total capital raised by the company to over $180m.
Buy your favorite item now via tabby app with 0% additional costs.