Fintech Tabby Hits $4.5 Billion Valuation After Secondary Share Sale
The firm expects to leverage the valuation to fuel expansion into broader financial services.
Saudi-based fintech Tabby has reached a $4.5 billion valuation following a secondary share sale by existing shareholders, as it gears up for a potential initial public offering (IPO) in the region. Founded in 2019 and originally headquartered in the UAE, Tabby now operates out of Saudi Arabia and offers Shariah-compliant buy-now-pay-later (BNPL) services across Saudi Arabia, the UAE, and Kuwait. The company’s previous valuation stood at $3.3 billion after a $160 million Series E funding round, but the latest transaction marks a significant step up in its market value. According to Taby’s leadership, the new valuation reflects its expanding product suite and surging transaction volumes — spanning virtual and physical payment cards, subscription services, longer-term instalment options, and buyer-protection programmes. The timing aligns with Tabby’s ambitions for a public listing within the next 18 months, with Saudi Arabia seen as a likely venue. The firm also plans to leverage its strengthened valuation to expand into broader financial services, including digital spending accounts, card issuance, payments infrastructure, and money-management tools.
