The firm operates across Saudi Arabia, the United Arab Emirates and Kuwait.
The Saudi Arabia-based financial-services platform Tabby has finalised a transaction in which existing shareholders sold their stake, which places the company’s implied valuation at USD 4.5 billion.
The deal saw HSG, Boyu Capital and additional investors purchase holdings from current shareholders. Tabby itself did not issue fresh shares nor benefit from the sale proceeds.
“We are delighted to bring on board our new investors who align with Tabby’s goals and the transformative role we’re playing in regional financial services,” said Hosam Arab, CEO and Co-Founder of Tabby.
Rock Wang, Managing Director at HSG, remarked: “Tabby’s pace of product development and swift scaling showcase outstanding execution and market insight. We look forward to working with the team as they construct a full-spectrum financial-services engine in a region ripe with growth opportunity.”
Joey Chen, Partner at Boyu Capital, stated: “Tabby has shown robust innovation in its offerings and steady growth within a fast-evolving market, positioning the company at the vanguard of the region’s emerging fintech space. We’re eager to collaborate with Hosam and the Tabby team as they develop the next wave of financial-services solutions in the Middle East.”
Tabby offers adaptive payment services to more than 40,000 international brands and SMEs—among them SHEIN, Amazon, Adidas, IKEA, H&M, Samsung, and Noon. It caters to consumers in Saudi Arabia, the UAE and Kuwait.
