Tabby raises $58M at $660M valuation as PayPal Ventures

MENA-based buy now, pay later startup Tabby has raised $58 million, led by Sequoia Capital India and STV, at a valuation of $660 million. The investors co-led the fintech’s Series B extension round last June. 

PayPal Ventures, the global corporate venture arm of PayPal, is one of the participating investors (this marks its first investment in the Gulf Cooperation Council (GCC) but second in the MENA region after Egyptian fintech Paymob). Other investors in Tabby’s new financing round include Mubadala Investment Capital, Arbor Ventures and Endeavor Catalyst. 

According to a statement shared by the Dubai-based company, the funding will be used to expand Tabby’s product line into a plethora of consumer financial