Tabby Turbocharged

Tabby Turbocharged

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  • Tabby, the leading MENA-based shopping and financial services app, has secured a substantial $700 million in receivables securitization from J.P. Morgan, marking the largest asset-backed facility obtained by a fintech company in the region. This comes ahead of Tabby's planned IPO in Saudi Arabia. Concurrently, Tabby extended its Series D financing to $250 million with participation from Hassana Investment Company, Soros Capital Management, and Saudi Venture Capital.
  • This financing reinforces Tabby's financial position amid surging demand for its buy now, pay later (BNPL) platform. The company, founded in 2019 by Hosam Arab, has achieved significant milestones, managing over $6 billion in annualized transaction volume. The collaboration with J.P. Morgan, Hassana, Soros, and SVC underscores Tabby's pivotal role in reshaping personal finance and shopping in the MENA region.

Why it matters

Hosam Arab, CEO and Co-Founder of Tabby, views the securitization as a major milestone, showcasing the rapid growth and evolution of the fintech landscape in the region. The importance of supporting retail credit in the Middle East shows the emphasis on the collaboration's contribution to a vibrant and growing consumer lending sector. Tabby's vision to empower consumers and merchants positions the company for accelerated growth and continued innovation in the MENA region.
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