Saudi Arabia–based fintech Tabby has closed a $233 million Series F equity raise that values the company at $6.5 billion, marking another step up for one of the Middle East’s consumer finance platforms. The round was led by existing backer Blue Pool Capital, the Hong Kong investment firm associated with Alibaba co-founder Joe Tsai.
Other current shareholders — HSG, Wellington Management and Arbor Ventures — also took part in the funding round.
Abu Dhabi sovereign investor Mubadala remains on the cap table from earlier rounds.
The transaction mixes newly issued stock with secondary shares and includes a liquidity window for staff.
Tabby has run employee share tenders since 2023 and says workers, current and former, have already realized more than $100 million through those sales.
Closing still depends on regulatory clearance, including from the Saudi Central Bank (SAMA).
The new price tag is a notable jump from the $4.5 billion implied by a secondary sale in October 2025, and a much larger increase from the $3.3 billion valuation set in a $160 million Series E in February 2025. In late 2023 the company had just crossed unicorn status at about $1.5 billion.
That trajectory has put Tabby among the region’s most valuable private fintechs and, on some market comparisons, above listed buy-now-pay-later peer Klarna.
Tabby began in 2019 in the United Arab Emirates as a checkout installment product and shifted its headquarters to Riyadh in 2023.
It says it has been profitable since that year.
Management now reports more than $18 billion in annualized transaction volume, about 25 million registered users, and relationships with roughly 70,000 merchants, among them Amazon and Shein.
One report put 2025 revenue at the Saudi unit at $378 million and net profit at $55 million.
The fresh capital is not framed as a land-grab into new countries. Chief executive and co-founder Hosam Arab told Reuters the money is mainly to go deeper in Saudi Arabia and the UAE.
Over the past year Tabby has assembled the licenses to move beyond short-term, interest-free installments.
SAMA granted consumer and SME finance permissions, allowing larger ticket sizes and longer tenors for shoppers — plans of up to SAR 50,000 over as many as 12 months have been described as Shariah-compliant Murabaha structures with a fixed, upfront cost — and working capital facilities for retailers on the platform.
The earlier purchase of SAMA-licensed wallet Tweeq added accounts, cards and transfers.
In the UAE, a Stored Value Facilities license underpins Tabby Cash, pitched as a fee-free debit-style account with cashback and domestic and international transfers.
Arab has described the company’s path in simple terms: it started as a button at checkout so people could spread a purchase over time, and every later product and license has been an extension of the same idea — that customers should get more out of their money.
Blue Pool’s Christopher Wu said the firm has watched Tabby evolve from payments into a broader platform for spending and managing money and wanted to keep backing that shift.
The raise also sits inside a wider Saudi policy story.
Riyadh’s National Fintech Strategy has seen licensed firms multiply and aims for hundreds more by 2030.
Tabby’s combination of scale, reported profitability and a fuller licensing stack makes it a flagship example of that push — even as the company still has to convert new permissions into durable lending and deposit-like products without losing the discipline that got it this far.