Tabby, a UAE-based BNPL platform, has raised USD 200 million in Series D funding led by Wellington Management, with participation from Bluepool Capital, Mubadala Investment Capital, PayPal Ventures, Arbor Ventures, and others. Tabby's total funding now stands at nearly USD 950 million, comprising equity and debt, with a post-money valuation of USD 1.5 billion.

The company did not disclose how the funds will be used. It reached unicorn status with this funding round and is preparing for an IPO by onboarding investors with public market expertise.

Tabby’s platform currently has over 30,000 merchant and brand partnerships, including Adidas, Amazon, H&M, and SHEIN, and services over 10 million users across Saudi Arabia, the UAE, and Kuwait. The company’s customer base is on par with Afterpay and Affirm ’s active number of users counting 16 million and 14 million, respectively.

Analyst QuickTake: Today’s funding news comes nearly five months after the company increased its debt facility to USD 350 million to expand its BNPL offerings and less than a year from raising USD 58 million in Series C funding .