Saudi financial technology 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 newly issued and existing shares, and also provides liquidity for the company’s current and former employees. Tabby said that since 2023 it has enabled these employees to sell shares worth more than $100 million, but the source did not specify how the round’s value is divided between new and existing 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 to finance consumers and small and medium-sized enterprises, enabling it to provide consumers with larger and longer-term financing, as well as working capital for businesses. It also acquired the Saudi Central Bank-licensed digital wallet portfolio of Tweeq, 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 locally and internationally.
Round Figures and Operating Metrics
Tabby said it has been profitable since 2023 and currently processes more than $18 billion in annual transactions 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 its announced transition to a broader suite 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 linked to regulatory approvals, and the available information does not specify a launch schedule for the new products or details on how the funding will be distributed among them.
Hosam Arab, Tabby’s chief executive officer 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 descriptions provided by the company and the investor, while the announced figures confirm the scale of the activity and licensed expansion but do not by themselves determine the success of each new product.