Tabby Hits $6.5B Valuation with $233M Equity Round to Expand Beyond BNPL

Tabby has secured $233 million in equity funding, propelling its valuation to $6.5 billion as it transitions from a buy now, pay later specialist into a comprehensive financial services provider. For fintech professionals, this massive capital injection underscores the maturing Middle Eastern market and the aggressive expansion of profitable platforms into banking-adjacent services across Saudi Arabia and the UAE.

What was announced

The $233 million equity round was led by Blue Pool Capital, with additional participation from existing shareholders including HSG, Wellington Management, and Arbor Ventures. This funding follows a period of significant operational scale for Tabby, which has been profitable since 2023. The company currently processes more than $18 billion in annualised transaction volume, serving a network of 25 million registered users and 70,000 business partners.

The capital is designated to support Tabby’s expansion beyond its core buy now, pay later (BNPL) offering into a broader suite of financial services. This transition is backed by a series of recent regulatory milestones. In Saudi Arabia, the Saudi Central Bank (SAMA) has granted Tabby both consumer and SME finance licences. These permits enable the company to provide larger, longer-term financing options to consumers and essential working capital to businesses. Furthermore, Tabby’s acquisition of Tweeq, a SAMA-licensed digital wallet, has integrated accounts, cards, and transfer capabilities into its ecosystem.

In the UAE, the company secured a Stored Value Facilities licence from the Central Bank of the UAE. This facilitated the launch of Tabby Cash, a digital alternative to traditional debit accounts that features no account or card fees, local and international money transfers, and cashback rewards on card spending. Notably, the transaction includes a liquidity option for employees; Tabby has facilitated more than $100 million in share sales through tenders since 2023, allowing staff to realise value from their equity holdings.

"We began with a button at an online checkout to help people spread costs over time. Everything since, every product and every licence, has come back to the same idea: people deserve more from their money. This round means we can build further on that, without changing how we think about growth or discipline."

Hosam Arab, CEO and Co-Founder of Tabby.

The companies involved

Tabby has established itself as the dominant force in the Middle Eastern fintech landscape, specifically within the United Arab Emirates and Saudi Arabia. Since its inception, it has evolved from a checkout integration tool into a multi-faceted financial platform. The company’s recent acquisition of Tweeq, a Saudi-based digital wallet provider, was a strategic move to secure the necessary regulatory infrastructure to compete with traditional retail banks. Tweeq itself has been a notable player in the Saudi fintech space, holding a sought-after digital wallet licence from SAMA.

Blue Pool Capital, the lead investor in this round, is a multi-strategy investment firm that has maintained a partnership with Tabby for three years. Joining them are Wellington Management, a global institutional asset manager, and Arbor Ventures, a venture capital firm focused specifically on the intersection of financial services and technology. These investors represent a mix of global institutional capital and sector-specific expertise, reflecting Tabby’s position as a late-stage fintech leader. The involvement of HSG further rounds out a cap table that has supported Tabby through its transition from a high-growth startup to a profitable, diversified financial institution.

What FF News has reported before

Tabby is a frequent fixture in FF News coverage of the Middle Eastern financial sector. We recently highlighted the company’s significant role in the region’s premier industry events, as noted in Money20/20 Middle East Unveils 2026 Riyadh Agenda Featuring Visa, BlackRock, and Tabby. This event placement positions Tabby alongside global legacy players, illustrating its market influence. Our ongoing coverage of the region, including reports on how Money20/20 Middle East Returns to Riyadh as Global Fintech Leaders Gather to Shape the Future of Finance, has tracked the rapid regulatory evolution in Saudi Arabia that made Tabby’s new licences possible. Additionally, we have monitored the broader competitive landscape in the UAE, such as when Alaan Secures CBUAE In-Principle Approval for Payment Licences, which mirrors the regulatory path Tabby has successfully navigated.

What this means

This announcement signals the definitive end of the "pure-play" BNPL era in the Middle East. By securing nearly a quarter-billion dollars at a $6.5 billion valuation while maintaining profitability, Tabby is demonstrating that the path to sustainable scale requires a rapid transition into a full-stack financial ecosystem. Traditional retail banks in the UAE and Saudi Arabia are now facing direct competition from a platform that already possesses a massive, engaged user base and the regulatory clearance to offer cards, transfers, and SME lending. The industry must now consider whether other regional players can match this pace of multi-jurisdictional licensing or if the market is consolidating around a few dominant, highly-capitalised "super-apps."