November 9, 2021

tabby driving a new trend in the Middle East

  • img
  • copied!

Forbes Middle East reports on the rising popularity of buy now pay later services

From Dubai to Riyadh, the hottest shopping craze today is not just over a new iPhone or the latest fashion; it’s the way consumers pay for their online purchases. Apps offering buy now, pay later (BNPL) services have boomed in popularity in the Middle East after the pandemic saw online spending accelerate.  

Consumers appear to be buying what tabby’s selling. The company reports that its app has over a million active shoppers across the UAE and Saudi Arabia, who use it to access over 3,000 brands, including Adidas, IKEA, SHEIN, and Marks & Spencer.

Investors are buying in too—in July 2021, tabby announced that it has raised $50 million in a Series B led by Global Founders Capital and STV, bringing its total funding to over $130 million and its valuation up to $300 million in under two years, cementing it as an early leader in a crowded field of local BNPL startups.

“Customers are looking for alternatives; they’re looking for a better way to pay,” says Hosam Arab, CEO, tabby.

Related In The News