Dubai’s BNPL platform tabby scores $50m

Dubai-based buy now, pay later platform tabby has secured $50m in its debt financing round from Partners for Growth.

The capital injection will bolster tabby’s capitalisation to expand lending capacity and grow its partner’s base.

Founded in 2019, tabby helps retailers enhance their sales offering through flexible payment options that let people pay over time, interest-free.

Through its services, which are used by more than 2,000 global brands and small businesses, allows people to pay for items via four instalments.

PFG investment director Max Penel said, “tabby is one of the fastest growing companies in the MENA region and they have an attractive market opportunity ahead. We are excited to support the tabby team and provide financing that can enable tabby to scale the platform, harnessing the continuous growth of the buy now pay later sector both regionally and globally.”

The FinTech company previously raised $50m in its Series B funding round back in 2021. Global Founders Capital and STV served as the lead investors, with commitments also coming from CCVA, Delivery Hero, Arbor Ventures, Raed Ventures, MSA Capital and many others.

Last month, fellow UAE-based FinTech company Hubay has scored $20m in its Series A funding round. The company offers a digital wallet and data-driven financial products that are available to everyone.

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