Saudi Arabia-headquartered Tabby has completed a secondary sale of shares held by existing shareholders.
The transaction had HSG, Boyu Capital, and others acquire shares from existing investors, implying the company’s valuation of USD 4.5 billion. The company clarified that no new shares were issued, and it did not receive any proceeds from the sale. Additionally, Tabby did not disclose the identities of the selling shareholders or the size of the transaction.
The new valuation grew from the previous USD 3.3 billion price tag Tabby achieved in its latest funding round, where it raised USD 160 million eight months ago. The deal allowed firms, such as HSG and Boyu Capital, to buy shares off existing investors, according to Bloomberg.
Tabby’s implied valuation of USD 4.5 billion
The company expresses positive feelings about welcoming new shareholders who have the same ambitions and goals as Tabby, mainly to contribute and make an impact on financial services across the region.
According to HSG, the company’s products are rapidly evolving and growing, which signals Tabby’s efficient execution and understanding of the market. HSG will be partnering with the management team as it continues to build tailored financial services in an emerging market. Additionally, Boyu Capital mentioned that Tabby’s product development and rapid scale in a developing market strengthen its presence in the Middle East’s financial technology industry.
Back in May 2025, Tabby announced it was preparing for an IPO within 12 months, with the company making preparations for going public, awaiting to ensure that the market conditions are favourable. Initially founded in Dubai, Tabby transferred its headquarters to the Kingdom of Saudi Arabia in 2023, preparing for a listing in Riyadh. According to their website, over 40,000 global brands and SMEs, including SHEIN, Amazon, Adidas, IKEA, H&M, Samsung, and Noon, leverage Tabby’s technology to drive growth and build a loyal customer base through flexible payments online and in stores. At the moment, the company serves Saudi Arabia, the UAE and Kuwait.
