Tabby, a Gulf fintech firm focused on buy now, pay later and consumer finance, said it raised US$233 million in a round led by Blue Pool Capital, valuing the company at US$6.5 billion.

Blue Pool, an existing Tabby investor that manages assets for families including Alibaba chairman Joseph Tsai, joined HSG, Wellington Management, and Arbor Ventures in the round.

The funding also gives employees a liquidity option.

Tabby said the valuation rose from US$4.5 billion in a secondary share sale less than a year ago. CEO Hosam Arab said the company, which became profitable in 2023, is not rushing a Saudi initial public offering.

In Saudi Arabia, Tabby recently won licenses to offer consumer and small-business financing and acquired digital wallet Tweeq.

In the United Arab Emirates, it secured a license to launch Tabby Cash, a debit card alternative that also enables local and international money transfers.

🔗 Source: Bloomberg

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