tabby has announced that it has raised Series A financing of $23m in debt and equity led by Arbor Ventures and Mubadala Capital, with participation from STV, Raed Ventures, Global Founders Capital, JIMCO, Global Ventures, Venture Souq, Outliers VC, MSA Capital, HOF and Arab Bank.
This funding will fuel the company’s next stage of growth, helping tabby materially scale its product and engineering capabilities in addition to its lending capacity, further benefiting its merchant partners and consumers.
The Series A financing builds on an exceptional year for tabby which saw a rapidly growing roster of large-scale retailers and market momentum driven by evolving consumer demand.
Melissa Guzy, Managing Partner at Arbor Ventures commented:
“We are very excited to have backed tabby, the leader in Buy Now Pay Later in MENA which is at a tipping point in digital payments. tabby’s network is expanding rapidly, and the company continues to innovate to offer best in market solutions for merchants and new frictionless payments for consumers.”
