Venture Capital-backed startup Tabby achieves a valuation of $3.3 billion following a $160 million Series E round, making it the Middle East and North Africa's highest-valued startup.
In the dynamic world of tech startups, one name has emerged as a standout in the Middle East and North Africa (MENA) region: Tabby. Founded in 2019, this Riyadh-headquartered fintech startup has rapidly expanded its financial services offerings, recently securing a significant position in the market.
As of October 2023, the most valuable VC-backed startup in the MENA region wasn't explicitly identified in the search results. However, the fintech sector in Saudi Arabia was the dominant and most heavily funded area. This landscape changed dramatically in 2025, with Tabby raising an impressive $160 million in Series E funding.
This funding round, led by Blue Pool Capital and Hassana Investment Company, with participation from STV and Wellington Management, propelled Tabby to a valuation of $3.3 billion. This makes it the most valuable VC-backed startup in the MENA region.
Tabby's success is reflected in its impressive growth. The company now serves over 15 million registered users and over 40,000 sellers across the region. Its annualized sales volume exceeds $10 billion, a figure that has nearly doubled since its last funding round in October 2023.
Tabby's growth can be attributed to its innovative suite of products. These include the Tabby Card for flexible payments, the Tabby Plus subscription program, Tabby Care for buyer protection, longer-term payment plans, and Tabby Shop to help users discover deals. In a strategic move, Tabby recently acquired Saudi-based digital wallet Tweeq.
The fintech sector in the MENA region benefits from strong government support and growing venture interest. Saudi Arabia, in particular, invested $1.34 billion in the first half of 2025, primarily in fintech. Notable fintech startups in the region, such as Alaan and Yasmina, have also raised significant funds and expanded their regional footprint.
In the absence of a named "most valuable" startup as of October 2023, leading fintech startups like Alaan and Yasmina, based on their recent large funding rounds and regional footprint, are among the top contenders. Saudi Arabia's overall startup ecosystem leads MENA in fund inflows, especially fintech, signalling where the highest valuations are likely concentrated.
Despite its rapid growth, Tabby has maintained profitability while expanding its services. This achievement is a testament to the company's strategic approach and commitment to delivering value to its users and partners. As the fintech sector continues to evolve in the MENA region, Tabby is poised to lead the way.
- Tabby's success in the fintech sector of the MENA region, marked by its impressive growth, impressive valuation, and profitable operations, positions it as a key player in business and technology.
- The fintech sector in the MENA region, with governments offering strong support and venture capital flowing in, particularly in Saudi Arabia, has emerged as a promising landscape for technology-driven startups like Tabby, Alaan, and Yasmina.
