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Tabby

Can MENA's leading BNPL convert its consumer footprint into a regulated, full-service financial services super-app across the GCC?

Founded2019
HQRiyadh, Saudi Arabia
Latest roundSeries E, 2025
Valuation$3.3B (Feb 2025)
IndustryFintech / Lending
The story

Founded 2019 as MENA's first scaled BNPL, Tabby is now executing the BNPL-to-super-app playbook: Tweeq acquisition gave it a SAMA-licensed wallet in Saudi, the 2026 UAE SVF licence gave it the right to hold customer funds and issue spending accounts, and the Tabby Card extends Pay in 4 anywhere Visa is accepted. The strategic shift is from merchant-funded checkout BNPL to a full consumer financial services app (spend, send, save, pay later) — with the next frontier being B2B working capital.

Last 12 months
2025-02
2025-03
2025-10
2026-04
Product timeline
2019
Founded as a BNPL provider for MENA shoppers.· pivot
2023
Series D at $1.5B valuation — first GCC fintech unicorn.· lending
2024
Received BNPL licence from SAMA in Saudi Arabia; acquired Tweeq (SAMA-licensed digital wallet).· acquisition
2025
Series E at $3.3B valuation; launched Tabby Card (Visa) for in-person Pay in 4.· card
2025
Renamed Saudi subsidiary to Tabby Financing Company CJSC; received formal financing licence.· lending
2026
Granted SVF licence by CBUAE — enabling spending accounts, cards and money management tools in the UAE.· banking
Regulated entities
Stored Value Facilities (SVF) Licence
UAE (CBUAE) · 2026
Tabby
BNPL / Financing Licence
Saudi Arabia (SAMA) · 2025
Tabby Financing Company CJSC
The stack
Payments / PSP
Tabby BNPL (self-operated)Tabby Card (Visa, self-issued)
Banking / BaaS
Tabby (in-house, UAE SVF licence; Tweeq for Saudi wallet, in-house)
Card issuing
Tabby (self-issued, Visa network)
Lending
Tabby Financing Company CJSC (in-house, SAMA-licensed)Pay in 4 (interest-free installments)Pay in monthly installments up to 12 monthsPay Later (next month)Tabby Care (purchase protection)
Accounting gap: minor