Tabby, the Saudi Arabia–headquartered financial services app, has announced the completion of a secondary share sale involving shares held by certain existing shareholders.
As part of the transaction, HSG, Boyu Capital, and other investors acquired shares from existing shareholders, resulting in an implied company valuation of $4.5 billion. No new Tabby shares were issued, and the company did not receive any proceeds from the sale.
Hosam Arab, CEO and Co-Founder at Tabby, said:
“We’re proud to welcome our new shareholders who share Tabby’s ambitions and the impact we’re making on financial services across the region.”
Rock Wang, Managing Director at HSG, commented:
“Tabby’s product velocity and rapid path to scalability reflect exceptional execution and a deep understanding of the market. We’re excited to partner with management as they continue to build a comprehensive financial services flywheel in a region with tremendous growth potential.”
Joey Chen, Partner at Boyu Capital, added:
“Tabby has demonstrated strong product innovation and disciplined growth in a rapidly developing market, placing the company as the forefront leader in this region’s nascent financial technology sector. We are excited to partner with Hosam and the Tabby team as they build the next generation of financial services in the Middle East.”
Tabby is a leading financial technology company that empowers millions of users in the Middle East to take control of their spending and make smarter financial decisions. Over 40,000 global brands and small businesses, including SHEIN, Amazon, Adidas, IKEA, H&M, Samsung, and Noon, rely on Tabby’s platform to accelerate growth and build customer loyalty through flexible payment options both online and in stores.
Headquartered in Riyadh, Tabby currently serves Saudi Arabia, the UAE, and Kuwait, driving innovation in the region’s fintech ecosystem.
