Gulf Startup Tabby Nabs $4.5 Billion Valuation in Secondary Sale

Saudi Arabia-based Tabby said it was valued at $4.5 billion after the fintech allowed early investors to offload their shares in a secondary sale.

The new valuation is up from the $3.3 billion price tag Tabby garnered in a $160 million financing round just eight months ago. The deal allowed firms including HSG and Boyu Capital to buy shares off existing investors, according to a statement.

One of the Middle East’s first fintech unicorns, Tabby is part of a cadre of increasingly popular buy-now, pay-later fintechs that let customers pay for goods in installments. More than 40,000 brands use the ...