08-08-2021 01:33 AM
Buy now, pay later platform Tabby has raised $50 million in a series B funding round, bringing its total funding to more than $130 million raised in less than two years.
The latest equity round values the Dubai-based company at $300 million and comes just one month after Tabby raised $50 million in debt financing.
The funding round is led by Global Founders Capital and STV with participation from Delivery Hero, CCVA, and existing investors.
It will be used to expand Tabby’s product portfolio and to help it enter several new markets, as well as expanding in its current largest market Saudi Arabia.
Co-founded by Hosam Arab, who also co-founded online retailer Namshi, Tabby allows users to shop online with interest-free installments.
The company says its app has more than 400,000 active users with 3,000 daily downloads.
The investment marks Delivery Hero’s first fintech investment in the Middle East and North Africa region.
Delivery Hero owns several regional delivery companies including Talabat and Instashop.
*Al Arabiya
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