Tabby has raised $394.0M in total across 7 funding rounds.
Tabby's investors include Arbor Ventures, Bessemer Venture Partners, General Atlantic.
Tabby is a leading fintech company offering Buy Now, Pay Later (BNPL) services in the Middle East and GCC region. Founded in 2019 and headquartered in Dubai, UAE, it enables consumers to split purchases into four interest-free monthly payments with no fees for timely repayment, serving online and in-store shoppers while partnering with merchants to boost conversion rates, average order values, and reduce returns from cash-on-delivery models.[1][2][3][4][6] Tabby targets tech-savvy, younger consumers in a market with low credit card penetration (around 20%), providing instant approvals, purchase protection, a rewards program, a shopping assistant app, and the Tabby Card for in-store use; it has grown to over 10 million users, 30,000+ retailer partners (including IKEA, SHEIN, Adidas), and $6 billion in annualized transaction volumes as of 2023, achieving unicorn status as the first independent fintech unicorn in the Middle East.[2][3][4]
Tabby was founded in 2019 by Hosam Arab, former CEO of Namshi (a major regional e-commerce platform), and Daniil Barkalov, spotting a gap in Dubai's retail finance landscape where high-interest traditional credit trapped consumers in debt cycles.[1][3] Emerging from the UAE, the idea stemmed from creating transparent, flexible BNPL alternatives to cumbersome credit systems, starting with e-commerce and expanding to in-store via merchant integrations.[1][2][3] Early traction came swiftly: by mid-2021, Tabby onboarded 2,000+ brands, hit 400,000 active users, and raised Series B funding at a $300 million valuation led by STV and Global Founders Capital; growth accelerated with Series C ($58 million) and $350 million in debt financing by 2023, scaling users to 10 million and solidifying regional leadership.[3][4]
Tabby rides the explosive growth of digital commerce and fintech in the Middle East, where e-commerce is booming amid low credit penetration and a shift from cash-on-delivery.[1][4] Timing aligns with rising smartphone adoption among young consumers and regulatory support for innovation in UAE/Saudi markets, positioning BNPL as a gateway to broader financial inclusion.[2][3] Market forces like merchant digitization and consumer demand for flexible payments favor Tabby, which influences the ecosystem by onboarding thousands of retailers, funding via debt facilities to scale loan books, and pioneering products that normalize installment shopping—paving the way for multi-faceted financial platforms in an underserved region.[3][4]
Tabby is poised to evolve from BNPL leader to a full-stack financial services app, leveraging acquisitions, Tabby Card growth, and merchant expansions amid GCC e-commerce surges.[3][4] Trends like AI-driven personalization, deeper in-store penetration, and regional economic diversification will shape its path, potentially driving profitability and further unicorn-scale funding. As the Middle East's fintech infrastructure matures, Tabby's transparent model—born from redefining retail finance—will likely anchor consumer empowerment, turning browsers into loyal buyers across the ecosystem.[1][3]
Tabby has raised $394.0M across 7 funding rounds. Most recently, it raised $200.0M Series D in October 2023.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Oct 1, 2023 | $200.0M Series D | Arbor Ventures, Bessemer Venture Partners, General Atlantic | |
| Jan 1, 2023 | $58.0M Series C | Arbor Ventures, Bessemer Venture Partners, General Atlantic | |
| Mar 1, 2022 | $54.0M Series B | Arbor Ventures, Bessemer Venture Partners, General Atlantic | |
| Aug 1, 2021 | $50.0M Series B | Arbor Ventures, Bessemer Venture Partners, General Atlantic | |
| Dec 1, 2020 | $23.0M Series A | Arbor Ventures, Bessemer Venture Partners, General Atlantic | |
| Jun 1, 2020 | $7.0M Seed | Arbor Ventures, Bessemer Venture Partners, General Atlantic | |
| Nov 1, 2019 | $2.0M Seed | Arbor Ventures, Bessemer Venture Partners, General Atlantic |
