Saudi fintech unicorn Tabby doubles valuation to $3.3bn after $160m funding boost.
Saudi Arabia’s first fintech unicorn Tabby has doubled its valuation to $3.3 billion following the successful closure of a $160 million series E funding round.
The round was led by Hong Kong-based Blue Pool Capital, and Hassana Investment Co., the funding arm of Saudi Arabia’s General Organization for Social Insurance, with participation from STV and Wellington Management.
This latest investment makes Tabby the most valuable fintech company in the Middle East and North Africa.
The company claims to have doubled its annualized transaction volumes to over $10 billion since its last $200 million series D funding round in 2023, which secured its unicorn status — a designation for startups valued at $1 billion or more without a stock market listing.
Under the National Unicorn Program, also known as Saudi Unicorns, the Kingdom aims to significantly increase the number of high-growth startups, create jobs, and boost gross domestic product.
Source: ARABNEWS
