News Summary

Tabby, a leading fintech company in the Middle East, has raised $160 million in a Series E funding round, doubling its valuation to $3.3 billion. The financing was co-led by Blue Pool Capital and Hassana Investment Company, with participation from STV and Wellington Management. This latest round comes on the heels of a $200 million Series D round 18 months ago, when the company was valued at $1.5 billion. Tabby, which claims profitability, has expanded its service offerings beyond its initial focus on online transactions to include in-store payments, retail, and broader financial services. The company now supports over 40,000 brands and merchants and has grown its user base to 15 million customers across Saudi Arabia, the UAE, and Kuwait. The fintech is also exploring remittances, particularly in the UAE-India corridor, and has plans for an IPO on the Saudi Exchange. The company has hired three banks to work on the upcoming deal.