# Tabby

> Source: https://docs.barcoder.ai/docs/wallets/tabby
> research date 2026-05-29 · extracted at 2026-10-03
> Publisher: Barcoder — encyclopedia of QR, barcode and payment-code standards

Specifications:
- [Tabby — official](https://tabby.ai/)

## Overview

**Tabby** is **MENA's largest BNPL fintech + first independent fintech unicorn in the Middle East** — UAE-headquartered with primary markets in **UAE, Saudi Arabia, Kuwait** <sup>[1][1], [2][2], [United Arab Emirates report](https://docs.barcoder.ai/docs/payments/AE)</sup>. By **2025**, Tabby had **15+ million users + $10+ billion annual transaction volume + 40,000+ retailers + $1.8B+ funding**. **February 2025 Series E at $3.3 billion valuation**; **October 2025 secondary share sale pushed implied valuation to $4.5+ billion** — most-valuable fintech in MENA. **Tabby's Saudi subsidiary FY2025 results: $55M net profit on $378M revenue** (Ernst & Young audited).

## History

**2019 — Tabby founded in UAE** by **Hosam Arab + Daniil Barkalov** as MENA Pay-in-4 BNPL pioneer.

**2020-2024 — Mass UAE + Saudi adoption + Kuwait expansion** <sup>[1][1]</sup>.

**February 2025 — Series E at $3.3 billion valuation** <sup>[1][1]</sup>: First independent fintech unicorn in Middle East.

**October 2025 — Secondary share sale at $4.5+ billion implied valuation** <sup>[1][1]</sup>.

**FY2025 — Saudi subsidiary: $55M net profit on $378M revenue (E&Y audited)** <sup>[1][1]</sup>.

## Ownership & operator

**Operating entity**: **Tabby** (UAE-headquartered).

**Co-founders**: **Hosam Arab (CEO; former Namshi) + Daniil Barkalov**.

**Major investors**: **PayPal Ventures, Sequoia (now Peak XV), Mubadala Investment, Saudi Public Investment Fund (PIF), Blossom Capital, Bond, Endeavor Catalyst** + others.

**Funding raised**: $1.8+ billion (multiple rounds; latest Series E Feb 2025 + Oct 2025 secondary).

**Regulators**: **SAMA (Saudi Arabia) + CBUAE (UAE) + per-country**.

## Technical integration

| Layer | Description |
|---|---|
| **Channels** | Tabby mobile app (iOS + Android) + merchant-checkout integration + Tabby Card |
| **Identifiers** | Phone + email |
| **Core products** | **Pay in 4** (4 interest-free installments) + Tabby Card (spend anywhere Visa/Mastercard accepted with Pay-in-4 conversion) |
| **Merchant integration** | Tabby checkout button at 40K+ retailers |

## Users & growth

**2025** <sup>[1][1], [3][3]</sup>:
- **Users**: 15+ million
- **Annual transaction volume**: $10+ billion
- **Retailers**: 40,000+
- **Funding raised**: $1.8+ billion
- **Series E valuation (Feb 2025)**: $3.3 billion
- **Oct 2025 secondary share sale valuation**: $4.5+ billion

**Saudi subsidiary FY2025**:
- **Net profit**: $55 million
- **Revenue**: $378 million

## Use cases

Pay-in-4 BNPL at MENA retailers (cardinal use); Tabby Card spending; merchant-checkout integration at 40K+ retailers; primarily young, urban consumers in UAE + Saudi + Kuwait.

## Implementations & partners

**Operator**: **Tabby**.

**Major investors**: **PayPal Ventures, Sequoia, Mubadala, Saudi PIF, Blossom Capital, Bond, Endeavor Catalyst**.

**Major MENA BNPL competitor**: **[Tamara](https://docs.barcoder.ai/docs/wallets/tamara)** (Saudi-headquartered; 20M+ users; $2.4B Goldman Sachs facility).

**Other MENA fintech competitors**: **[STC Pay](https://docs.barcoder.ai/docs/standards/stc-pay)** + **[Careem Pay](https://docs.barcoder.ai/docs/wallets/careem-pay)** (super-app) + traditional bank credit cards.

**Regulators**: **SAMA + CBUAE + per-country**.

## Fun facts

- **2019 founded by Hosam Arab + Daniil Barkalov** in UAE — MENA Pay-in-4 BNPL pioneer.
- **15M+ users + $10B+ annual transaction volume + 40K+ retailers (2025)**.
- **Feb 2025 Series E at $3.3B**; **Oct 2025 secondary at $4.5B+** — first independent fintech unicorn in MENA + most-valuable.
- **$55M net profit on $378M revenue (Saudi subsidiary FY2025)** — profitable scale.
- **Backed by Saudi PIF + Mubadala (UAE sovereign-wealth) + PayPal Ventures** — substantial sovereign + strategic investor mix.
- **MENA BNPL market projected $5.8B in 2025 (+19.4% YoY)** — context.
- **Primary competitor [Tamara](https://docs.barcoder.ai/docs/wallets/tamara)** is Saudi-headquartered while Tabby is UAE-headquartered — interesting MENA BNPL duopoly.

## Comparison

| Feature | Tabby | [Tamara](https://docs.barcoder.ai/docs/wallets/tamara) | [Klarna](https://docs.barcoder.ai/docs/wallets/klarna) (global comparable) | [Affirm](https://docs.barcoder.ai/docs/wallets/affirm) | Afterpay |
|---|---|---|---|---|---|
| Operator | **Tabby (UAE-HQ)** | Tamara (Saudi-HQ) | Klarna Group plc (NYSE: KLAR) | Affirm Holdings (NASDAQ: AFRM) | Block, Inc. (XYZ) |
| Markets | **UAE + Saudi + Kuwait** | Saudi + UAE + Bahrain + Kuwait | 45+ globally | US + CA + AU + GB | 8 globally |
| Users (2025) | **15M+** | 20M+ | 180M total / 114M Q3 active | ~27M | Major (Block subsidiary) |
| Valuation | **$4.5B+ (Oct 2025)** | $1B+ unicorn (TechCrunch Dec 2023) | $15.1B IPO NYSE Sept 2025 | NASDAQ AFRM | Block (XYZ) |
| Annual volume | **$10B+** | n/a | $32.7B Q3 GMV | $37B | $20B+ |
| Saudi profitability | **$55M FY25 net profit / $378M rev** | n/a | n/a | n/a | n/a |

## Status

**Active, most-valuable MENA fintech + first MENA fintech unicorn** <sup>[1][1]</sup>:
- **Tabby (UAE-HQ)** since 2019.
- **15M+ users + $10B+ annual volume + 40K+ retailers + $1.8B+ funding**.
- **Feb 2025 Series E at $3.3B + Oct 2025 secondary at $4.5B+ valuation**.
- **Saudi subsidiary FY2025: $55M net profit / $378M revenue**.

## Sources

[1]: https://medium.com/@khusnudshahidi_388/how-tabby-built-the-middle-easts-largest-bnpl-system-fbfbdf122d2c "Tabby largest MENA BNPL — Medium"
[2]: https://www.entrepreneur.com/en-ae/growth-strategies/tabby-the-first-independent-fintech-unicorn-in-the-middle/488802 "Tabby first MENA fintech unicorn — Entrepreneur"
[3]: https://www.apaya.io/post/buy-now-pay-later-why-bnpl-is-reshaping-payments-in-mena-region "MENA BNPL $8.8B reshaping checkout — Apaya"
[4]: https://uaestartupstory.com/tabby-success-story/ "Tabby success story — UAE Startup Story"
[ae-cro]: https://docs.barcoder.ai/docs/payments/AE

- [1] [Tabby largest MENA BNPL — Medium][1]
- [2] [Tabby first MENA fintech unicorn — Entrepreneur][2]
- [3] [MENA BNPL $8.8B reshaping checkout — Apaya][3]
- [4] [Tabby success story — UAE Startup Story][4]
- <sup>[United Arab Emirates report](https://docs.barcoder.ai/docs/payments/AE)</sup> In-corpus: `reports/countries/AE-uae.md`

## Source

Biography extracted from [tabby.md](https://docs.barcoder.ai/source/wallets/tabby). See `matrix.md` for standards-support matrix if present.