Dubai-based Tabby, a prominent player in the buy now, pay later sector, has recently secured an impressive $350 million in a debt financing round, spearheaded by Partners For Growth (PFG), a leading American investment firm. The substantial injection of funds is poised to drive Tabby’s ambitious growth initiatives and cement its position as a key player in the industry. Notably, this financing round witnessed the participation of other notable investors, including Atalaya Capital Management, based in New York, and CoVenture, a Miami-based multi-strategy asset-management firm.
With an impressive user base exceeding 4 million active customers, Tabby has solidified its presence by partnering with over 15,000 businesses and issuing more than 280,000 Tabby Cards across the United Arab Emirates. The infusion of capital will provide the necessary impetus for Tabby’s core buy now, pay later business to expand its reach and cater to a broader spectrum of customers, retailers, and purchases.
Hosam Arab, the CEO and Co-Founder of Tabby, expressed his enthusiasm regarding the additional financing, highlighting its pivotal role in bolstering Tabby’s operations. Arab affirmed that the increased capital infusion will facilitate the company’s mission to serve a larger customer base and forge stronger partnerships with retailers, effectively transforming Tabby into a prominent destination for millions of customers in search of brands, trending styles, and exclusive deals. Evidently, Tabby’s app boasts over 20,000 daily installations and is responsible for driving an impressive five million store visits every month.
As the buy now, pay later trend continues to gain traction globally, Tabby is poised to harness this momentum and solidify its position as a trusted partner for customers and businesses alike. The latest funding round signifies a crucial milestone for Tabby, providing the necessary resources to propel its growth trajectory and enhance the overall customer experience in the evolving realm of online delivery.
