Tabby, the Saudi Arabia and UAE-based fintech, has raised US$233 million at a US$6.5 billion valuation to expand beyond buy now, pay later into broader financial services.

Blue Pool Capital led the round, with existing investors HSG, Wellington Management and Arbor Ventures also taking part.

Tabby processes more than US$18 billion in annualised transaction volume.

The company has run employee share tenders since 2023, facilitating more than US$100 million in staff share sales. The new round includes a further liquidity option for employees.

In Saudi Arabia, the Saudi Central Bank has granted Tabby consumer and SME finance licences, letting it offer larger, longer-term financing to consumers and working capital to businesses.

Tabby also acquired Tweeq, a SAMA-licensed digital wallet, adding accounts, cards and transfers to its offering.

In the UAE, the Central Bank granted Tabby a Stored Value Facilities licence. The company used it to launch Tabby Cash, an alternative to a debit account with no account or card fees.

The product offers cashback on card spending and local and international transfers.

“Everything since, every product and every licence, has come back to the same idea: people deserve more from their money.

This round means we can build further on that, without changing how we think about growth or discipline,”

said Hosam Arab, CEO and co-founder of Tabby.

“We are proud of our partnership with Tabby over the past three years,

and we are excited to continue supporting the impressive growth of the company with this financing,”

said Christopher Wu, Chief Investment Officer at Blue Pool Capital.

The transaction is subject to regulatory approvals, including from the Saudi Central Bank.

Featured image: Edited by Fintech News UAE, based on image by Who is Danny via Magnific