Tabby aims for IPO in 12 months amid market readiness
Deal News | May 06, 2025 | Zawya
The article discusses the potential IPO plans of Tabby, a UAE-founded Buy Now, Pay Later (BNPL) tech company now based in Riyadh. CEO Hosam Arab has indicated that the IPO could occur within 12 to 18 months, contingent on favorable market conditions. Despite the company's recent Series E funding round raising $160 million, mitigating immediate pressure to go public, Tabby is actively preparing for a listing. The company has witnessed substantial growth, yet faces challenges navigating investor pricing expectations for growth-oriented ventures in the region. The article also contextualizes the BNPL landscape by referencing Swedish BNPL firm Klarna's decision to delay its US IPO due to market volatility. Additionally, the article briefly mentions comments from Mohamad Ballout, CEO of Kitopi, another tech firm considering an IPO in the next few years, who is also navigating the macroeconomic environment.
Sectors
- Financial Technology (FinTech)
- E-commerce
- Investment Banking
Geography
- United Arab Emirates – Tabby was founded in Dubai, UAE.
- Saudi Arabia – Tabby is currently headquartered in Riyadh, Saudi Arabia.
- Global – Discussion of international investors and comparisons with companies like Swedish firm Klarna highlight a global operational perspective.
Industry
- Financial Technology (FinTech) – Tabby is a tech company offering BNPL services, which places it within the FinTech sector.
- E-commerce – The BNPL service supports e-commerce transactions, expanding affordability and financial accessibility for consumers.
- Investment Banking – Involvement in IPO preparations indicates interaction with investment banking services.
Financials
- $160 million – Raised in Series E funding by Tabby earlier this year.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Tabby | Target Company | Company | A BNPL tech company, originally founded in Dubai, now based in Riyadh. |
| Hosam Arab | CEO of Tabby | Person | Chief Executive Officer of Tabby, overseeing IPO preparations. |
| Klarna | Comparable Company | Company | A Swedish BNPL company that has delayed its IPO. |
| Kitopi | Peer Company | Company | Cloud kitchen firm considering an IPO in the next few years. |
| Mohamad Ballout | CEO of Kitopi | Person | CEO and co-founder of the cloud kitchen firm Kitopi. |