Latest news with #HosamArab
Zawya
06-05-2025
- Business
- Zawya
BNPL firm Tabby's IPO could be as soon as 12 months away
The IPO of UAE-founded BNPL tech Tabby could happen in 12 months if market conditions are right, and in the meantime the company is working to ensure it is ready to list. CEO Hosam Arab said the firm, which was founded in Dubai but later relocated to Riyadh, was continuing to build and prepare for IPO, while also waiting to make sure the markets had turned around. Arab said there had been 'one BNPL casualty' in the form of Swedish firm Klarna, which announced last month it would delay its planned US IPO. He said Tabby's IPO timeline is within the next 12-18 months, with the shorter end of the timeline likely if the markets turn around sooner. The firm raised $160 million in Series E funding earlier this year, meaning there is 'no rush' to go public, he added. The February private round was 'definitely the right call', and made sure there were buffers in place for changing market conditions. 'Our market has been somewhat resilient in the short-term. Today, we are not immune to changes in oil prices, and that's where we are a bit more concerned, around a broader recession and impact on consumer spend and credit performance in the markets we operate in.' Arab said that while the IPO market for state-led and real estate entities has been tested in the region, there have been relatively few IPOs among growth plays, such as those in the tech space. 'We grew 85% last year. For investors in this region to price this hasn't been tested yet. We have seen investors very comfortable around yield plays, so there is a question mark for us.' He said questions remain about who will price growth plays—experienced global investors or regional investors, such as sovereigns, that are becoming more comfortable with growth plays. Arab noted that retaining international investors could be a challenge, as share allocations for global investors in the region tend to be small. This means those sold on the story of the company and the market may find it not worth retaining stocks for the long term. Mohamad Ballout, CEO and co-founder of cloud kitchen firm Kitopi, said his company was two or three years away from IPO. He said his expectations from the region's market are that they provide a win in all scenarios. If markets remain solid, with continued listings, that will be a win, but if the oil price falls and markets do not perform as well, Kitopi sees it as an opportunity to 'double down and do more', he said. 'Given our window of wanting to go public is next couple of years, there's actually a lot of opportunities, whatever happens on the macro stage, and things private companies can do better.'
Hi Dubai
17-02-2025
- Business
- Hi Dubai
Tabby Secures $160M, Becomes MENA's Most Valuable Fintech at $3.3B Valuation
Tabby, the Middle East and North Africa's leading financial services and shopping app, has raised $160 million in a Series E funding round, bringing its valuation to $3.3 billion—making it the most valuable fintech company in the region. The round was led by Blue Pool Capital and Saudi Arabia's Hassana Investment Company, alongside existing investors STV and Wellington Management. Accelerating Growth and Profitability Since its last funding round in October 2023, Tabby has nearly doubled its annualized transaction volume to over $10 billion while maintaining profitability. This rapid growth underscores the company's position as a dominant player in the fintech sector. Expanding Product Portfolio and Financial Services Tabby has been expanding its offerings, including the acquisition of Saudi-based digital wallet Tweeq and the introduction of new financial tools: Tabby Card for flexible payments beyond checkout for flexible payments beyond checkout Tabby Plus , a subscription service for exclusive benefits , a subscription service for exclusive benefits Longer-term payment plans Tabby Shop for discovering deals for discovering deals Tabby Care, a buyer protection program With the new funding, Tabby aims to enhance its financial services by expanding digital spending accounts, payment solutions, cards, and money management tools. Strengthening Position for IPO and Saudi Vision 2030 The funding also solidifies Tabby's position as it prepares for an upcoming IPO and aligns with Saudi Arabia's Vision 2030, which focuses on transitioning to a cashless economy. Hosam Arab, Tabby's CEO and co-founder, highlighted the company's mission: "This investment allows us to accelerate the rollout of products that make managing money simpler and more rewarding for our customers. We're focused on creating tangible impact—helping people take control of their finances with tools that are accessible, effortless, and built for their everyday lives." Christopher Wu, CIO at Blue Pool Capital, praised Tabby's innovation and efficiency: "Tabby's strong revenue growth and operational efficiency set them apart from other fintechs globally. We're incredibly excited to support the team on their mission." Ahmed Al Qahtani, CIO for Regional Markets at Hassana Investment Company, added: "We've been consistently impressed with Tabby's ability to execute and maintain strong momentum. Their innovative products are redefining financial services in the region." Tabby's Expanding Market Reach The app now serves over 15 million registered users and 40,000 sellers, generating an annualized sales volume exceeding $10 billion. Additionally, Tabby has been integrated into DubaiPay, the UAE's unified digital payment platform operated by Digital Dubai and the Department of Finance. This enables round-the-clock deferred payment services, providing citizens, residents, and visitors with flexible installment options to better manage their financial commitments. With its record-breaking valuation, rapid expansion, and strategic partnerships, Tabby is well on its way to reshaping the region's fintech landscape.
CairoScene
12-02-2025
- Business
- CairoScene
Saudi-Based Fintech Tabby Raises $160 Million Series E
Founded in 2019 in the UAE, Tabby has since reached $10 billion in annualized transaction volumes. Feb 12, 2025 Saudi Arabia-based fintech company Tabby secured $160 million in a Series E funding round, bringing its valuation to $3.3 billion. The round was led by existing investors Blue Pool Capital and Hassana Investment Company, with additional participation from STV and Wellington Management. 'This investment allows us to accelerate our rollout of products that make managing money simpler and more rewarding for our customers,' Hosam Arab, CEO and Co-Founder at Tabby, said. 'We're focused on creating tangible impact - helping people take control of their finances with tools that are accessible, effortless and built for their everyday lives.' Founded in 2019 in the UAE, Tabby has since reached $10 billion in annualized transaction volumes. The company has broadened its services beyond the buy now, pay later (BNPL) sector, introducing the Tabby Card for flexible payments, Tabby Plus as a subscription program, and longer-term payment plans.
Wamda
12-02-2025
- Business
- Wamda
Tabby closes $160 million Series E, eyeing IPO
Saudi Arabia-based fintech Tabby has raised $160 million in a Series E financing round at a $3.3 billion valuation. The round was led by existing investors Blue Pool Capital and Hassana Investment Company and drew additional participation from STV and Wellington Management. Founded in 2019 in the UAE by Hosam Arab, Tabby is a buy now pay later (BNPL) fintech with $10 billion in annualised transaction volumes. The funds will be primarily used to accelerate the expansion of Tabby's financial services, including digital spending accounts, payments, cards, and money management tools. This financing round boosts Tabby's planned IPO. In October 2023, Tabby closed its Series D at $200 million. Press release: Tabby, the MENA's leading financial services and shopping app, has raised $160 million in a Series E financing round at a $3.3 billion valuation, cementing Tabby as the most valuable fintech company in the region. The round was led by existing investors Blue Pool Capital and Hassana Investment Company and drew additional participation from STV and Wellington Management. Since the last funding round in October 2023, the financial services app has almost doubled its annualised transaction volumes to over $10 billion while growing profitability. The company recently acquired Tweeq, a Saudi-based digital wallet, expanding its product portfolio. It has introduced Tabby Card for flexible payments beyond checkout and Tabby Plus, a subscription program. Additionally, it has evolved its core buy now, pay later offering with longer-term payment plans, Tabby Shop to help users find the best deals, and Tabby Care, a buyer protection program. The funds will be primarily used to accelerate the expansion of Tabby's financial services, including digital spending accounts, payments, cards, and money management tools, while advancing Saudi Arabia's Vision 2030 goals by driving the Kingdom's cashless economy forward. This financing round positions Tabby strongly as it prepares for its upcoming IPO, signalling a pivotal step in its growth journey and reinforcing its ability to deliver the next generation of financial services across the Middle East. Hosam Arab, CEO and Co-Founder at Tabby, said, 'This investment allows us to accelerate our rollout of products that make managing money simpler and more rewarding for our customers. We're focused on creating tangible impact—helping people take control of their finances with tools that are accessible, effortless and built for their everyday lives.' Christopher Wu, Chief Investment Officer at Blue Pool Capital, said, 'Tabby's ability to innovate and deliver exceptional products is truly impressive. Their strong revenue growth and operational efficiency set them apart from other fintech companies globally. We are incredibly excited to support the team on their mission.' Ahmed Al Qahtani, Chief Investment Officer for Regional Markets at Hassana Investment Company, said, 'We are consistently impressed with Tabby's remarkable ability to execute and build significant momentum in such a short time. Their unwavering dedication to delivering innovative products and solutions to customers reinforces our strong belief in Tabby's bright future. We are excited to continue our partnership as they redefine the financial services landscape in the region.' Tabby begins 2025 with more than 15 million registered users and over 40,000 sellers, driving an annualised sales volume of over $10 billion.
Gulf Business
12-02-2025
- Business
- Gulf Business
Tabby raises $160m, becomes MENA's most ‘valuable' fintech
Image: Tabby Tabby, the Middle East and North Africa's leading financial services and shopping app, has secured $160m in a series E funding round, pushing its valuation to $3.3bn and making it the most valuable fintech company in the region. The round was led by global investor Blue Pool Capital and Saudi Arabia's Hassana Investment Company, with additional participation from existing backers STV and Wellington Management. Since its last funding round in October 2023, Tabby expands product portfolio The company has also expanded its product portfolio with the acquisition of Saudi-based digital wallet Tweeq and the introduction of new financial tools, including the Tabby Card for flexible payments beyond checkout and Tabby Plus, a subscription service. Other offerings include longer-term payment plans, Tabby Shop for deal discovery, and Tabby Care, a buyer protection programme. The new capital will be used to accelerate the expansion of Tabby's financial services, including digital spending accounts, payments, cards, and money management tools. Strengthens position with upcoming IPO The company aims to contribute to Saudi Arabia's Vision 2030 by supporting the kingdom's transition to a cashless economy. The financing round also strengthens Tabby's position as it prepares for an upcoming IPO. 'This investment allows us to accelerate our rollout of products that make managing money simpler and more rewarding for our customers,' said Hosam Arab, the company's CEO and co-founder. 'We're focused on creating tangible impact — helping people take control of their finances with tools that are accessible, effortless, and built for their everyday lives.' Christopher Wu, chief investment officer at Blue Pool Capital, praised the company's growth and efficiency: 'Tabby's ability to innovate and deliver exceptional products is truly impressive. Their strong revenue growth and operational efficiency set them apart from other fintech companies globally. We are incredibly excited to support the team on their mission.' Ahmed Al Qahtani, chief investment officer for Regional Markets at Hassana Investment Company, added: 'We've been consistently impressed with Tabby's ability to execute and achieve such strong momentum in a short period. Their dedication to delivering innovative products and solutions to their customers reinforces our conviction in its future, and we're thrilled to continue our partnership as they redefine financial services in the region.' The app has more than 15 million registered users and more than 40,000 sellers, driving an annualised sales volume exceeding $10bn. Read: In other news, Dubai Government, represented by Digital Dubai and the Department of Finance, has integrated Tabby into DubaiPay — the unified hub for service providers and government entities. This integration enables round-the-clock deferred payment services, offering citizens, residents, and visitors in the UAE a seamless and secure way to make payments. By introducing flexible installment options, the initiative enhances customer convenience and empowers users to manage their financial commitments more effectively.
