Saudi Arabia-based FinTech company Tabby, a financial services app that empowers consumers to manage spending and payments more effectively, has announced the completion of a secondary share sale involving existing shareholders.
The deal saw HSG, Boyu Capital, and other investors acquire shares from existing holders, resulting in an implied company valuation of $4.5bn. No new shares were issued and the company itself did not receive any proceeds from the transaction.
Founded in Riyadh, Tabby provides financial technology solutions that enable millions of users across the Middle East to maintain better control over their finances and make smarter spending decisions. Its platform supports both online and in-store flexible payment options for consumers.
Today, over 40,000 global brands and SMEs, including SHEIN, Amazon, Adidas, IKEA, H&M, Samsung, and Noon, rely on Tabby’s technology to boost customer loyalty and accelerate sales through flexible payments.
Tabby CEO and co-founder Hosam Arab said, “We’re proud to welcome our new shareholders who share Tabby’s ambitions and the impact we’re making on financial services across the region.”
HSG managing director Rock Wang said, “Tabby’s product velocity and rapid path to scalability reflect exceptional execution and a deep understanding of the market. We’re excited to partner with management as they continue to build a comprehensive financial services flywheel in a region with tremendous growth potential.”
Boyu Capital partner Joey Chen said, “Tabby has demonstrated strong product innovation and disciplined growth in a rapidly developing market, placing the company as the forefront leader in this region’s nascent financial technology sector. We are excited to partner with Hosam and the Tabby team as they build the next generation of financial services in the Middle East.”
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