Klarna Rival Tabby Secures $700M Debt Financing From J.P. Morgan, Expands Series D To $250M

Jan 03, 2024•almost 2 years ago

Amount Raised

$700 Million

Round Type

series d

RiyadhFinancial Services

Investors

Saudi Venture CapitalSoros Capital ManagementHassana Investment Company

Description

In a parallel move, Tabby extended its Series D financing to close $250 million with participation from Hassana Investment Company. The round was joined by US-based Soros Capital Management and KSA-based Saudi Venture Capital (SVC). Late last year, Tabby raised $200 million in equity financing as a part of its Series D funding at a $1.5 billion valuation. This follows the $150 million in debt financing it received last year and the $58 million Series C funding round raised earlier this year.

Company Information

Company

Tabby

Location

Riyadh, Riyadh Region, Saudi Arabia

About

Tabby creates financial freedom in the way people shop, earn and save by reshaping their relationship with money. +10 million users choose Tabby to stay in control of their spending and make the most out of their money. Over 30,000 global brands and small businesses, including SHEIN, Amazon, Adidas, IKEA, H&M, Samsung and noon use Tabby’s technology to accelerate growth and gain loyal customers by offering flexible payments online and in stores. Tabby is active in Saudi Arabia, UAE and Kuwait, and is valued at $660 million in its latest round of funding from Sequoia Capital India, STV, PayPal Ventures, Mubadala Investment Capital, Arbor Ventures, and Endeavor Catalyst.

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Funding Insights

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VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers

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