Total amount raised
$1.9 Billion
Latest funding date
2/1/2025
Location
Tabby has successfully raised funds over 14 rounds, attracting a diverse group of 29 investors, including notable names like Boyu Capital and HSG. The platform offers a unique "buy now, pay later" service, allowing customers to split their purchases into multiple interest-free payments.
Keep reading to explore the intricacies of Tabby's fundraising journey and the investors backing this innovative platform.
What Is Tabby?
Tabby, a private company based in Riyadh, Saudi Arabia, operates in the financial services industry, specifically focusing on "Buy Now, Pay Later" (BNPL) solutions. Founded in an unspecified year, the company has grown significantly, employing between 1001-5000 people.
Tabby enables customers to split their purchases into multiple interest-free payments, enhancing the shopping experience by removing price barriers and offering exclusive deals. The company is involved in various sectors, including Artificial Intelligence, Billing, Finance, FinTech, and Payments.
How Much Funding Has Tabby Raised?
- Series B
- Amount Raised: USD 50,000,000
- Date: August 2021
- Lead Investors: Global Founders Capital, STV
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support growth and expansion efforts.
- Series B
- Amount Raised: USD 54,000,000
- Date: March 2022
- Lead Investors: Peak XV Partners, STV
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support growth and expansion efforts.
- Debt Financing
- Amount Raised: USD 150,000,000
- Date: August 2022
- Lead Investors: Atalaya Capital, Partners for Growth
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand financial services and support operational growth.
- Series C
- Amount Raised: USD 58,000,000
- Date: January 2023
- Lead Investors: Peak XV Partners, STV
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product offerings and expand market reach.
- Debt Financing
- Amount Raised: USD 350,000,000
- Date: May 2023
- Lead Investors: Partners for Growth
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support operational growth and financial stability.
- Series D
- Amount Raised: USD 200,000,000
- Date: November 2023
- Lead Investors: Wellington Management
- Valuation at Round: USD 1,500,000,000
- Motivation Behind the Round: To support growth and expansion efforts.
- Debt Financing
- Amount Raised: USD 700,000,000
- Date: December 2023
- Lead Investors: JP Morgan
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support operational growth and financial stability.
- Series D
- Amount Raised: USD 50,000,000
- Date: December 2023
- Lead Investors: Hassana Investment Company (HIC)
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support growth and expansion efforts.
- Series E
- Amount Raised: USD 160,000,000
- Date: February 2025
- Lead Investors: Blue Pool Capital, Hassana Investment Company (HIC)
- Valuation at Round: USD 3,300,000,000
- Motivation Behind the Round: To expand financial services and prepare for an IPO.
- Secondary Market
- Amount Raised: Not publicly disclosed
- Date: October 2025
- Lead Investors: Boyu Capital, HSG
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to early investors and employees.
Total Amount Raised: USD 1,772,000,000. Current Valuation: USD 3,300,000,000.
Key Investors
- Boyu Capital
- Details: Boyu Capital is a private equity firm that focuses on investments in various sectors. They are known for their strategic investments in high-growth companies.
- Investment Focus Areas: Consumer, healthcare, technology
- Notable Investments: Not publicly disclosed
- HSG
- Details: HSG is an investment firm, though specific details about the firm are not widely available. They have been involved in significant funding rounds for Tabby.
- Investment Focus Areas: Not publicly disclosed
- Notable Investments: Not publicly disclosed
- Blue Pool Capital
- Details: Blue Pool Capital is an investment firm known for managing the wealth of Alibaba founders Jack Ma and Joe Tsai. They focus on private equity and venture capital investments.
- Investment Focus Areas: Private equity, venture capital
- Notable Investments: Alibaba
- Hassana Investment Company (HIC)
- Details: Hassana Investment Company is the investment arm of Saudi Arabia's General Organization for Social Insurance (GOSI). They focus on long-term investments that align with Saudi Arabia's economic goals.
- Investment Focus Areas: Real estate, infrastructure, technology
- Notable Investments: Not publicly disclosed
- Wellington Management
- Details: Wellington Management is a global investment management firm that offers a broad range of investment solutions. They manage a diverse portfolio with investments in global equities, fixed income, and alternative assets.
- Investment Focus Areas: Equities, fixed income, alternatives
- Notable Investments: Not publicly disclosed
What's Next for Tabby?
Tabby is poised for significant growth as it expands its financial services, including digital spending accounts, payments, and money management tools. The company's recent acquisition of Tweeq and the introduction of new products like the Tabby Card and Tabby Plus highlight its commitment to enhancing customer experience and aligning with Saudi Arabia’s Vision 2030.
With a valuation of $3.3 billion and a user base of 15 million, Tabby is eyeing an IPO on the Saudi Exchange, which could open new avenues for fundraising. However, the company faces challenges such as maintaining profitability, navigating regulatory requirements, and competing with regional and global fintech players.
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