Together, Tabby valuation surge and Tamara regulatory milestone paint a clear picture of a rapidly maturing and increasingly institutionalized BNPL landscape in Saudi Arabia.
One of MENA’s leading buy-now-pay-later (BNPL) platform, Tabby, has seen its valuation rise to $4.5 billion following a secondary share sale that brought new global investors HSG and Boyu Capital on board. The transaction involved the purchase of shares from existing shareholders, with no new equity issued and no proceeds directed to the company.
Based in Riyadh, Tabby provides flexible payment solutions for over 40,000 merchants across Saudi Arabia, the UAE, and Kuwait, empowering regional consumers and businesses through digital financial services.
Founded in 2019, Tabby has become a key player in the Gulf’s digital economy, enabling shoppers to split payments seamlessly across thousands of retail partners. The company is now preparing for a potential IPO in 2026, following a year of accelerated growth, including a $160 million funding round in February that previously boosted its valuation to $3.3 billion.
The company is also now hosting AI infrastructure within the Kingdom, having established its own AI factory in Saudi Arabia, powered by NVIDIA HGX systems. Tabby plans to accelerate the development of AI applications across various domains, including customer support, fraud detection, risk scoring, and personalized shopping experiences.
Meanwhile, another regional peer, BNPL unicorn Tamara has just secured a full regulatory license from the UAE Central Bank. This achievement marks a defining moment for regulatory maturity in the sector. It demonstrates that Saudi-born fintechs can successfully navigate complex licensing regimes and operate under institutional-grade supervision, a critical step toward broader consumer trust and regional expansion.
This milestone also positions Tamara to diversify beyond “buy now, pay later” into regulated credit and digital payment products, paving the way for a more comprehensive digital finance offering. For this purpose, the company has recently raised fresh asset-backed funding facility of up to $2.4 billion from major financial institutions, including Goldman Sachs, Citi, and Apollo funds.
Together, these two developments highlight how the Kingdom’s leading BNPL platforms are no longer simply fast-growing startups. Instead, they are becoming core pillars of the region’s digital finance infrastructure.
