Gulf fintech company Tabby has raised $233 million in fresh funding, pushing its valuation to $6.5 billion as it looks beyond buy now, pay later and builds a broader financial services business across Saudi Arabia and the UAE.
The Series F round was led by Hong Kong investment firm Blue Pool Capital, which is backed by Alibaba co-founder Joe Tsai. Existing investors HSG, Wellington Management and Arbor Ventures also participated. The transaction included both new and existing shares, with part of the round providing liquidity to Tabby employees.
The new valuation represents a substantial jump for a company founded only in 2019. Tabby was valued at $4.5 billion following a secondary share sale in October 2025, meaning its latest financing has added another $2 billion to its headline valuation in less than a year.
That increase comes as Tabby attempts to evolve beyond the buy now, pay later model that helped establish it as one of the Gulf’s most prominent fintech companies. Rather than using the latest capital primarily to enter new countries, CEO and co-founder Hosam Arab said the company intends to deepen its presence in Saudi Arabia and the UAE.
The strategy makes sense given Tabby’s existing scale. The company says it now has 25 million registered users, works with around 70,000 businesses and processes more than $18 billion in annualised transaction volume. Its merchant network includes major international names such as Amazon and Shein.
More importantly, Tabby’s product ambitions are becoming considerably broader. In Saudi Arabia, the company has secured licences allowing it to offer consumers larger loans with longer repayment periods, as well as working capital products for businesses. In the UAE, regulatory approval gives it the ability to launch a cash product designed as an alternative to conventional debit accounts.
That transition potentially puts Tabby into competition with a much wider range of financial institutions. Buy now, pay later provided fintech companies with a relatively focused entry point into consumer finance, but lending, business financing and everyday account-like products move Tabby closer to territory traditionally occupied by banks and digital banking platforms.
The company also has heavyweight financial backing. Abu Dhabi sovereign wealth fund Mubadala is among its investors, adding to a shareholder base that now includes several major international investment firms.
One question that continues to follow a private company at Tabby’s scale is when it might head to the public markets. Arab is not committing to an IPO timetable, saying the profitable and well-capitalised company does not need to rush a listing. He also left the eventual choice of exchange open.
For now, the $6.5 billion valuation gives Tabby additional financial firepower without forcing that decision. The bigger test will be whether it can successfully turn millions of buy now, pay later customers into users of a much broader financial ecosystem without losing the simplicity that drove its original growth.
