In the Press

Saudi Arabia-based Tabby, one of the Middle East’s first fintech unicorns, has secured an asset-backed credit line of $700 million from JPMorgan. The buy-now-pay-later firm also increased their Series D funding round to $250 million after adding Saudi Arabia’s Hassana Investment Co. as an investor. The company is now valued at $1.5B.

Majid Al Futtaim, the leading shopping mall, retail and leisure group across the Middle East, Africa and Asia has announced a long-term strategic partnership - the first of its kind, with Tabby to offer flexible payment solutions to customers. The new partnership with enable customers to use Buy Now, Pay Later (BNPL) in malls and in-store by offering interest free credit over short-term instalment plans.

Congratulations to Hosam Arab and the team at Tabby on a successful financing round which has increased their debt facility to $350 million. We are proud to watch Tabby go from strength to strength, serving more customers and retailers across the Middle East. Founded in 2019, Dubai-based Tabby partners with retailers to offer consumers, both online and in-store, the option to defer paying for purchases for up to 30 days or to pay four equal monthly instalments at zero cost. Tabby has more than 4 million active customers and has partnered with over 15,000 businesses.

The Economist Special Report: Cashless Talks by Arjun Ramani reached out to Arbor’s co-Founder and Managing Partner Melissa Guzy quoting her when writing about a potential cashless future; Melissa Guzy said the biggest opportunities may be in Asia where BNPL has outperformed due to a lack of credit cards in the region and in some places like Japan, users are also wary of putting their card information online.

We are excited to welcome Dubai Future District Fund as a strategic investor in Arbor Ventures. It is part of our mission to further support the growth of the Fintech ecosystem in the UAE and wider MENA region. We look forward to collaborating with DFDF in developing and strengthening the region’s start-up ecosystem.

Congratulations to Elad Tsur and the team at Planck on IAG's investment - to unlock the potential of bringing Planck's underwriting automation operations to the Australian commercial insurance market!