DUBAI: Tabby, a buy-now-pay-later provider based in Dubai, has raised $54 million in its latest funding round, as more Gulf consumers adopt the new payment method.
The Series B round was led by Sequoia Capital India and STV, with additional funds from Abu Dhabi’s sovereign wealth fund Mubadala.
“The rapid adoption we continue to see today shows the urgency of consumer demand for flexible and honest payment experiences over predatory interest-driven credit,” Tabby Chief Executive Officer, Hosam Arab, said.
The Dubai-based fintech startup said they have over 1.1 million active users in Saudi Arabia and the UAE – two of its biggest markets where it was also named among the top shopping applications.
Today’s consumer is a…