• Dubai-based BNPL player Tabby has secured USD 150 million in debt financing from Atalaya Capital Management and existing investor Partners for Growth, making this the largest credit deal secured by a fintech company in the GCC. The round follows its extended series B funding of USD 54 million in March 2022 .

• The investment supports the company’s sustained growth in transaction volumes and product expansion plans. Furthermore, the company claims that it has recorded a 10x increase in revenue, 8x increase in active customers, and 3x increase in active retail partners compared to 2021. 

<ul><li> Analyst QuickTake: As part of its product expansion, Tabby inked a partnership with Visa and M2P Fintech, Asia’s largest API infrastructure company, to launch a digital BNPL Visa card for in-store payments in May 2022 . The industry has witnessed an influx of BNPL cards (either physical or virtual), as it is considered an effective alternative to increase merchant and customer reach. Several players have introduced BNPL cards recently including Klarna (the UK and US ) and Zilch ( Europe ).</ul>