Tabby

What is Tabby?

Tabby is the leading buy now pay later platform in the Middle East and North Africa, transforming how consumers shop and pay across the region. Founded in 2019 by Hosam Arab and Daniil Barkalov, Tabby emerged in Dubai with a mission to transform the retail and consumer finance landscape in the Middle East through accessible BNPL solutions. The company has grown to become the most valuable fintech company in the Middle East and North Africa , serving millions of shoppers across Saudi Arabia, UAE, and Kuwait.

How Tabby Works

Tabby lets you split your purchases into 4 interest-free payments. No hidden fees. Customers pay the first installment at checkout, with the remaining three payments spread over the following months. Customers do not pay extra when they pay on time. No interest. No fees. This simple structure makes budgeting predictable and helps shoppers avoid traditional credit card debt.

Shariah Compliance and No Late Fees

Tabby has committed to providing Shariah-compliant payment solutions for customers across the GCC. In adherence to core principles of delivering Shariah-compliant payments and in response to the recent Fatwa issued by the Council of Senior Scholars in the Kingdom of Saudi Arabia, Tabby has removed late fees in the Kingdom. This ensures customers can shop with confidence knowing their payments align with Islamic finance principles.

Extensive Merchant Network

Over 30,000 global brands and small businesses, including SHEIN, Amazon, Adidas, IKEA, H&M, Samsung and Noon use Tabby's technology to accelerate growth and gain loyal customers by offering flexible payments online and in stores. This extensive network spans fashion, beauty, electronics, home goods, and lifestyle categories, giving shoppers access to flexible payments at their favorite retailers.

Tabby Card and In-Store Payments

Tabby extends its payment flexibility beyond online shopping through the Tabby Card. Tabby+ is a monthly subscription service that lets customers take the power of Pay in 4 anywhere – whether it's groceries, utilities, fuel, food delivery apps, or anywhere VISA is accepted using the Tabby Card. This allows customers to use interest-free installments for everyday purchases beyond traditional retail.

Benefits for Merchants

With interest-free installments, Tabby encourages larger basket sizes, leading to a 33% increase in average order value. Tabby reduces cart abandonment by removing price as a barrier, leading to an increase in conversion rates by 18%. It also increases customer loyalty with Tabby's loyal users, improving repeat purchase rate by an average of 40%. Merchants receive full payment upfront while Tabby handles installment collection from customers.

Tabby Care and Buyer Protection

Tabby Care lets you shop in confidence. If something's wrong with your purchase, and sellers can't help, Tabby will put your payments on hold and make returns easy. This buyer protection program ensures customers can shop with peace of mind, knowing support is available if issues arise with their orders.

Who Should Use Tabby?

Tabby appeals to shoppers across Saudi Arabia, UAE, and Kuwait who want flexible, interest-free payment options without the complexity of traditional credit. Younger demographics, particularly Millennials and Generation Z, are increasingly utilizing BNPL services in Saudi Arabia. These tech-savvy consumers prefer alternative payment methods that offer flexibility and convenience over traditional credit options. For merchants, Tabby is ideal for retailers seeking to increase conversions and build customer loyalty.

Funding and Valuation

Saudi Arabia's first fintech unicorn Tabby has doubled its valuation to $3.3 billion following the successful closure of a $160 million series E funding round. Tabby has raised $604M in funding from investors like STV, Global Founders Capital and Blue Pool Capital. The company is backed by major investors including Wellington Management, Mubadala Investment Capital, PayPal Ventures, and Hassana Investment Company.

Regional Presence and Expansion

Saudi Arabia remains Tabby's largest market, representing 80% of its customer base. Shortly after achieving unicorn status, Tabby relocated its headquarters to Saudi Arabia, positioning itself at the heart of the region's most dynamic economy in preparation for its anticipated IPO on the Saudi Arabian Exchange (Tadawul). The company is active in Saudi Arabia, UAE, and Kuwait.

Security and Regulation

In September 2024, Tabby made a strategic acquisition of Tweeq, a Saudi-based digital wallet licensed by the Saudi Central Bank (SAMA). The platform uses secure authentication and encryption to protect user data and transactions. Customers in the UAE will be charged collection charges if they miss their payment due date. Consistently late payments will negatively impact their credit score.