UAE startups win biggest stake of regional investing

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(MENAFN) The UAE’s leading fintech startup Tabby collected USD58 million in a series C investing round from international financers estimating the firm’s worth at USD660 million.

Created 4 years ago (2019), Tabby supplies users with purchase now, pay later service to ease a economic friendly shopping experience online and offline.

In an extended meeting with Arab News, Hosam Arab, chief executive and founder of Tabby, mentioned that the firm is going to use its investing to expand its output offering and grow present outputs into additional markets.

“We’re looking to expand our Tabby Card offering to other operating markets outside of the UAE. We’re also building toward consumer financial products to help people do more with their money,” he stated.

The Tabby virtual card is a Visa card that permits shoppers to divide their buying into four payments at select in-store sites.

Tabby was able to release more than 150,000 cards in half a year with in-stores presently contributing 10 percent of overall sales.

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