Key points

  • Blue Pool Capital led the $233 million equity round, with HSG, Wellington Management and Arbor Ventures participating.
  • Tabby says it processes more than $18 billion in annualized volume across 25 million registered users and 70,000 business partners.
  • The financing is subject to applicable regulatory approvals, including approval from the Saudi Central Bank.

Gulf financial technology company Tabby has raised $233 million in a Series F equity round that values the business at $6.5 billion, giving it fresh capital to expand beyond buy now, pay later services in Saudi Arabia and the United Arab Emirates. Blue Pool Capital led the financing, while existing shareholders HSG, Wellington Management and Arbor Ventures also participated.

A larger valuation and a broader remit

The new valuation is about 44% above the $4.5 billion level attached to Tabby's October 2025 share sale, according to Reuters. Tabby said the round combines new and existing shares and includes a liquidity option for employees. The company has conducted employee share tenders since 2023 and says those programs have facilitated more than $100 million of sales for current and former staff.

Related reporting: Circle’s $400 million Tazapay deal targets stablecoin payouts

The financing does not close every remaining step. Tabby's announcement says the transaction is subject to applicable regulatory approvals, including approval from the Saudi Central Bank. That condition matters because the company's growth strategy increasingly depends on regulated lending, payments and account-like products rather than only checkout financing.

Saudi Arabia and the UAE anchor expansion

In Saudi Arabia, Tabby has obtained consumer and small-business finance licences that allow it to offer larger, longer-term credit to individuals and working capital to companies. It also acquired Tweeq, a digital wallet licensed by the Saudi Central Bank, extending its reach into accounts, cards and transfers. In the UAE, the company received a Stored Value Facilities licence from the Central Bank of the UAE for Tabby Cash, which it presents as a fee-free alternative to a conventional debit account.

Those licences show why the round is strategically important. Buy now, pay later remains Tabby's starting point, but the company is building a wider consumer-finance platform across its two core markets. More capital can support product development, funding capacity and regulatory requirements as it takes on services traditionally offered by banks and card issuers.

Scale supports the pitch, but execution still matters

Tabby says it has been profitable since 2023 and now processes more than $18 billion in annualized transaction volume. Its network includes 25 million registered users and 70,000 business partners, including major global and regional retailers. Reuters reported that chief executive and co-founder Hosam Arab views the proceeds primarily as capital for deeper expansion in Saudi Arabia and the UAE.

For consumers, the shift could mean more borrowing, payment and money-management options inside one app. Merchants may gain access to a larger financing and payments network, while banks and card providers face another well-funded regional competitor. The opportunity comes with familiar risks: credit quality can weaken as lending grows, regulation differs between markets, and user registrations do not necessarily translate into active or profitable customers.

No forced timetable for an IPO

The latest financing also gives Tabby flexibility over any eventual public listing. Arab told Reuters that the company is profitable and well capitalized, so it does not need to force the timing of an initial public offering. He said a future venue would be chosen according to what best serves the company, shareholders and long-term growth. For now, the immediate test is whether Tabby can turn regulatory permissions and fresh equity into durable financial-services growth without losing underwriting discipline.

Sources

AI-generated editorial image; not a photograph of the reported event. Prepared with AI assistance and source verification.