A bold investment

Tabby Secures Credit Facilities of Up To $700 Million From JPMorgan

The company Tabby, specializing in buy-now-pay-later services, has announced securing credit facilities of up to $700 million USD from JPMorgan. This announcement comes as part of its readiness for an initial public offering in the Saudi Arabian market, coinciding with the increase of its investment round (Series D) to $250 million USD.

Last month, the company raised $200 million USD in an investment round (Series D), with participation from Saudi Technology Ventures and Soros Capital. Today, it declared an increase in the value of this round to $250 million USD with the inclusion of Investment Corporation of Dubai.

Tabby noted that this recent investment round contributed to raising the company’s valuation to $1.5 billion USD and is expected to support its growing demand for services alongside the acquired credit facilities.

In a similar context, Tamara, Tabby’s main competitor, announced this week securing funding of $340 million USD in a Series C round, leading to the company’s valuation reaching $1 billion USD.

Tabby Secures Credit Facilities of Up To $700 Million From JPMorgan

About Tabby

The company helps split purchases into 4 interest-free installments online and in stores, compliant with Sharia principles.

Tabby’s service features:

Convenient and Regular Payments:

  • Enjoy instant purchases and pay later by choosing Tabby as a payment method during checkout.
  • Split the value of your purchases into 4 monthly payments without any interest.

No Interest, No Fees:

  • The company prioritizes trust and reliability, ensuring no additional interest or fees during your payment commitment period.

Cashback Rewards:

  • Shop from partner brands through Tabby’s website and app and receive withdrawable cashback rewards or transfer them to your bank account.

By introducing innovative services and competitive features, The company offers an innovative and convenient solution in the world of shopping and payments. By enabling users to buy now and pay later without interest, ensuring trust and transparency without imposing any extra fees, Tabby provides a convenient and flexible shopping experience for consumers. Additionally, the cashback feature adds extra value by offering users a chance to receive a withdrawable or transferable financial reward.

Read Also: “Makken Fintech” Empowers 150 Emerging Financial Tech Companies in Saudi Arabia

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