Categories: News

Tabby is slated for impressive growth with investment from PayPal and over 15000 global brands signing on

After a new round of financing, Tabby, a Dubai based FinTech company has increased its debt facility more than two-fold to $350 million. The funding was led by global credit investors including US-based Atalaya Capital Management, Partners for Growth and CoVenture. The Mubadala-backed startup said in a statement that this evinced the “remarkable growth it was experiencing, with more than 4 million active customers.”

Operating under the ‘buy now pay later’ (BNPL) business model, Tabby’s platform went live in February 2020 and has since signed agreements with over 15,000 global brands and small businesses like H&M, Adidas, IKEA and Bloomingdale’s.

In January, the startup raised $660 million in Series C funding from PayPal, Sequoia Capital India and STV from Saudi Arabia. It also received another line of debt financing in August 2022 for $150 million from Atalaya Capital and PFG. All this has contributed to Tabby becoming one of the most valuable startups in the Middle East and North Africa and the first to receive funding from PayPal.

The rise in popularity of the BNPL model, especially among millennials and Gen Z since the start of the pandemic, has projected BNPL transaction values skyrocketing, estimated to become $576 billion by 2026 from $120 billion in 2021 (according to GlobalData).

The company is also competing with Postpay, Cashew, Spotii, and Tamara for a slice of the Middle East’s growing BNPL market.

Staff Reporter

Recent Posts

Understanding the intricacies of gambling A complete overview for enthusiasts

Understanding the intricacies of gambling A complete overview for enthusiasts The Evolution of Gambling Gambling…

41 minutes ago

Забудьте о буднях 97% игроков выбирают олимп ком за взрывной драйв и множители до x500 от самого Зев

Забудьте о буднях: 97% игроков выбирают олимп ком за взрывной драйв и множители до x500…

45 minutes ago

İrəliləyişləri uğurla əldə etmək üçün Pin-Up casino casino oyunlarında qabaqcıl texnikalar necə tətbiq olunur

İrəliləyişləri uğurla əldə etmək üçün Pin-Up casino casino oyunlarında qabaqcıl texnikalar necə tətbiq olunur Pin-Up…

2 hours ago

Pratiche di gioco responsabile come divertimenti e sicurezza possono coesistere

Pratiche di gioco responsabile come divertimenti e sicurezza possono coesistere Importanza del gioco responsabile Il…

2 hours ago

Rôle de la technologie dans l'évolution des jeux de hasard

Rôle de la technologie dans l'évolution des jeux de hasard La révolution numérique et les…

3 hours ago

This website uses cookies.