Saudi Arabia’s Tabby Valued at $1.5 Billion in Pre-IPO Fundraise

Saudi Arabia-based Tabby raised $200 million in a funding round that values the buy-now-pay-later firm at over $1.5 billion ahead of a planned listing in the kingdom.

The Series D round was led by Wellington Management, with participation from Bluepool Capital and existing investors Saudi venture capital firm STV, Mubadala Investment Capital, PayPal Ventures and Arbor Ventures, Tabby said in a statement. The fundraise makes Tabby one of the Gulf region’s first fintech unicorns and more than doubles the firm’s valuation from $660 million as of January.

“We are building and broadening out our consumer and merchant offering,” Chief ...