Fintech funding record: Dubai-based Tabby raises $50mln in debt financing
Dubai-based buy-now, pay-later company Tabby has raised $50 million in debt financing from Partners for Growth (PFG). It is one of the largest ever such facilities for a Fintech startup in the MENA region.
Buy-now, pay-later facility enables customers to buy goods and then pay for them in installments or after a certain period of time free of interest. Tabby’s services are available in the UAE and Saudi Arabia.
Also, Saudi competitor Tamara recently raised $110m in debt and equity financing from checkout.com in one of the region’s largest startup investments to date. Tamara predicts the global buy-now, pay-later sector could grow 400 per cent to reach $680bn in transaction volumes by 2025.
