Saudi-headquartered fintech Tabby announced on Monday that it has raised $233 million in a Series F equity round led by Blue Pool Capital, valuing the company at $6.5 billion, up from a $4.5 billion valuation in October 2025.
The round drew participation from HSG, Wellington Management and Arbor Ventures, alongside lead investor Blue Pool Capital, reflecting continued investor appetite for buy-now-pay-later platforms operating across the Gulf region.
SCALE SPANS 25 MILLION USERS AND 70,000 MERCHANTS
Tabby said it processes more than $18 billion in annualised transaction volume across 25 million registered users and works with 70,000 businesses, including major merchants such as Amazon and Shein. The figures underline the scale the company has reached since its founding, positioning it among the largest consumer fintech platforms in the Middle East.
The company has secured licenses in Saudi Arabia for larger, longer-term consumer financing and business working capital, as well as a UAE licence for a cash product, expanding its offering beyond its original buy-now-pay-later model into a broader suite of consumer and business finance products.
ROUND SUBJECT TO REGULATORY APPROVAL
The Series F round includes a liquidity option for employees and remains subject to regulatory approval from the Saudi Central Bank, known as SAMA, before it can be finalised. The structure reflects the closely regulated nature of consumer lending activity in Saudi Arabia, where fintech firms must secure central bank sign-off for capital-raising and licensing matters.
The new valuation places Tabby among the most highly valued fintech companies to emerge from the Gulf region, reflecting rapid growth in digital consumer finance across Saudi Arabia and the wider Middle East. Tabby's expanding licence portfolio suggests the company intends to broaden its product range further as it consolidates its position in the regional market.
The rise from a $4.5 billion valuation in October 2025 to $6.5 billion in the latest round represents a substantial increase over less than a year, underscoring how quickly investor sentiment toward the buy-now-pay-later sector in the Gulf has strengthened. The involvement of Blue Pool Capital as lead investor, alongside existing backers HSG, Wellington Management and Arbor Ventures, points to continued confidence from both new and returning shareholders in Tabby's growth trajectory.
Tabby's inclusion of a liquidity option for employees within the round structure also reflects a maturing approach to equity compensation as the company scales, giving staff a mechanism to realise value from their holdings while the broader Series F financing works through the regulatory approval process with the Saudi Central Bank.
Tabby's expansion beyond its original short-term instalment product into larger, longer-term consumer financing and business working capital in Saudi Arabia, together with its new UAE cash product licence, signals an ambition to compete more broadly against traditional consumer lenders rather than remaining solely a point-of-sale instalment provider. The $18 billion in annualised transaction volume processed across its network of 70,000 merchant partners, including global names such as Amazon and Shein, gives the company a substantial base of transaction data and merchant relationships to support this broader product expansion.
The presence of both new and returning institutional investors in the Series F round, alongside the employee liquidity component, suggests Tabby's shareholder base is aligning around a longer-term growth plan rather than a near-term exit, with the pending SAMA approval representing the final procedural step before the round's proceeds become available for deployment across its expanding product lines.