Sequoia Capital, Saudi's STV lead $54 mn funding for gulf fintech Tabby

Sequoia Capital India and Saudi venture capital firm STV led a $54 million funding round for Tabby, the Middle East’s largest buy-now, pay-later provider, as demand fintech solutions booms.
 

Existing investors Mubadala Investment Capital, Arbor Ventures, and Global Founders Capital also participated in the Series B capital raise, according to a statement. The firm has so far raised $180 million in debt and equity.

“We want to expand into markets where we see direct overlap either from a consumer or a merchant perspective,” Chief Executive Officer Hosam Arab said in an interview. The firm, which currently operates in Saudi Arabia and