Total amount raised
$1.9 Billions
Latest funding date
Location
Tabby has successfully raised significant funding through multiple rounds, with its latest being a Series E. The platform offers a "Buy Now, Pay Later" service, allowing customers to split their purchases into four interest-free payments.
Keep reading to explore the details of Tabby's funding journey and the investors supporting this innovative financial service.
What Is Tabby?
Founded in 2019, Tabby is a payments and shopping app based in Riyadh, Saudi Arabia. The company was established by Daniil Barkalov and Hosam Arab.
Tabby offers a "Buy Now, Pay Later" service, allowing customers to split their purchases into four interest-free payments. The platform aims to create financial freedom by reshaping the way people shop, earn, and save.
With a workforce of 1001-5000 employees, Tabby continues to grow, providing additional services like the Tabby Card, Tabby App, and a Cashback Program.
How Much Funding Has Tabby Raised?
- Series B
- Amount Raised: $50M
- Date: August 2021
- Lead Investors: Global Founders Capital, STV
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand its "Buy Now, Pay Later" services and increase market penetration.
- Series B
- Amount Raised: $54M
- Date: March 2022
- Lead Investors: Peak XV Partners, STV
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the launch of new financial products and services.
- Debt Financing
- Amount Raised: $150M
- Date: August 2022
- Lead Investors: Atalaya Capital, Partners for Growth
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance liquidity and support operational growth.
- Series C
- Amount Raised: $58M
- Date: January 2023
- Lead Investors: Peak XV Partners, STV
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and expand into new markets.
- Debt Financing
- Amount Raised: $350M
- Date: May 2023
- Lead Investors: Partners for Growth
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's rapid growth and expansion plans.
- Series D
- Amount Raised: $250M
- Date: November 2023
- Lead Investors: Wellington Management
- Valuation at Round: $1.5 billion
- Motivation Behind the Round: To further expand its financial ecosystem and prepare for an IPO.
- Debt Financing
- Amount Raised: $700M
- Date: December 2023
- Lead Investors: JP Morgan
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance liquidity and support operational growth.
- Series D
- Amount Raised: $50M
- Date: December 2023
- Lead Investors: Hassana Investment Company (HIC)
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's rapid growth and expansion plans.
- Series E
- Amount Raised: $160M
- Date: February 2025
- Lead Investors: Blue Pool Capital, Hassana Investment Company (HIC)
- Valuation at Round: $3.3 billion
- Motivation Behind the Round: To expand financial services and prepare for an IPO.
Total Amount Raised: $1.822 billion. Current Valuation: $3.3 billion.
Key Investors
- Blue Pool Capital
- Details: Blue Pool Capital is an investment firm known for managing the wealth of Alibaba founders Jack Ma and Joe Tsai. The firm focuses on private equity and venture capital investments.
- Investment Focus Areas: Private equity, venture capital.
- Notable Investments: Alibaba, other high-profile tech companies.
- Hassana Investment Company (HIC)
- Details: Hassana Investment Company is the investment arm of Saudi Arabia's General Organization for Social Insurance (GOSI). It aims to support the financial stability of Saudi Arabia's social insurance system.
- Investment Focus Areas: Diverse investment opportunities, financial stability, economic diversification.
- Notable Investments: Various sectors supporting Saudi Arabia's economic diversification.
- STV
- Details: STV is a venture capital firm focused on technology investments in the Middle East and North Africa (MENA) region. It aims to support the growth of tech startups in the region.
- Investment Focus Areas: Technology startups, MENA region.
- Notable Investments: Careem, Unifonic.
- Wellington Management
- Details: Wellington Management is a global investment management firm offering a broad range of investment solutions. The firm manages investments across various asset classes.
- Investment Focus Areas: Equities, fixed income, alternatives.
- Notable Investments: Technology, healthcare, financial services.
- Partners for Growth
- Details: Partners for Growth is a private debt firm that provides financing solutions to growth-stage companies. The firm focuses on supporting companies with strong growth potential.
- Investment Focus Areas: Private debt, growth-stage companies.
- Notable Investments: Not publicly disclosed.
What's Next for Tabby?
Tabby is poised to capitalize on the burgeoning fintech landscape by expanding its suite of financial services. With a focus on digital spending accounts, payments, and money management tools, the company aims to support Saudi Arabia's Vision 2030 by promoting a cashless economy. The recent acquisition of Tweeq and the introduction of new products like the Tabby Card and Tabby Plus further solidify its market position.
Future fundraising opportunities are on the horizon, with an IPO planned on the Saudi Exchange. This move is expected to provide significant capital for scaling operations and entering new markets. However, challenges such as maintaining profitability, navigating regulatory landscapes, and facing stiff competition from both regional and global players could test Tabby's resilience.
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