Tuesday April 23rd, 2024
Download The SceneNow App

UAE-Based Fintech Startup Tabby Upsizes Debt Facility to $350 Million

The move marks an increase of more than double its previous debt facility.

Startup Scene

Tabby, a UAE-based buy now pay later platform,, has just upsized its debt facility to $350 million following the closure of a new financing round led by key global investors Partners For Growth (PFG), Atalaya Capital Management, and CoVenture, marking an increase of more than double its previous debt facility.

With this upsize, Tabby has increased the amount of loan funding it can receive, both a testament to their recent growth and a driver of future growth. "We are thrilled to partner with exceptional investors Atalaya, CoVenture and PFG to continue supporting Tabby’s growth and redefining what people can do with their money.” Hosam Arab, CEO and Co-Founder of Tabby tells StartupScene.

Established in 2019 by Hosam Arab, Tabby collaborates with more than 10,000 brands like H&M, Adidas, IKEA, and Noon, among other retailers in the MENA region. The BNPL startup has four million active users at present and operates in major markets across the region, including Saudi Arabia, UAE, Kuwait, and most recently, Egypt.

×

Be the first to know

Download

The SceneNow App