Saudi fintech company Tabby has raised $233 million in a Series F funding round at a valuation of $6.5 billion. The round was led by existing investor Blue Pool Capital, with participation from HSG, Wellington Management and Arbor Ventures. The transaction still requires the necessary regulatory approvals, including approval from the Saudi Central Bank.
The round includes both primary and secondary shares, and also provides liquidity for current and former employees. Tabby said it has enabled these employees to sell more than $100 million worth of shares since 2023, but the source did not specify how the round’s value is divided between primary and secondary shares.
From Deferred Payments to Broader Financial Services
Tabby was founded in 2019 by Hosam Arab and Daniil Barkalov, and began as a buy now, pay later (BNPL) provider. The company was founded in the UAE before moving its headquarters to Saudi Arabia in 2023, and is currently working to expand into credit and money management products in Saudi Arabia and the UAE.
In Saudi Arabia, Tabby holds licenses for consumer and small and medium-sized enterprise financing, enabling it to provide consumers with larger financing amounts and longer terms, as well as provide working capital to businesses. It also acquired the Saudi Central Bank-licensed Tweeq digital wallet, expanding its capabilities to include accounts, cards and money transfers.
In the UAE, the company obtained a Stored Value Facilities license from the Central Bank of the United Arab Emirates to launch Tabby Cash. According to the information provided in the source, the service allows users to use an account and card without fees, receive cashback on card payments, and send money domestically and internationally.
Round Figures and Operating Indicators
Tabby said it has been profitable since 2023 and currently processes more than $18 billion in annual transaction volume through 25 million registered users and 70,000 merchant partners. The new valuation increases the company’s value by about 44% compared with the $4.5 billion valuation following a secondary share sale in October 2025, and is nearly double the $3.3 billion valuation recorded when it closed its $160 million Series E round in February 2025.
What Is Changing in Practice?
The round shows that Tabby is not using the funding solely to expand its BNPL service, but to finance an announced transition to a broader range of credit and money management products. This includes consumers and small and medium-sized enterprises, in addition to accounts, cards, transfers and the Tabby Cash service. However, completion of the transaction remains subject to regulatory approvals, and the available information does not specify the launch schedule for the new products or details on how the funding will be allocated among them.
Hosam Arab, Tabby’s CEO and co-founder, said the company wants to continue building on this expansion while maintaining its approach to growth and financial discipline. Blue Pool Capital said Tabby has evolved from a payments-focused company into a platform used by millions of people in the region to manage, spend and grow their money. These remain characterizations provided by the company and the investor, while the disclosed figures confirm the scale of activity and licensed expansion but do not, on their own, determine the success of each new product.