Last year, Tabby, the buy-now-pay-later mobile application operating in the UAE and Saudi Arabia, achieved its highest user engagement to date, recording 26 million clicks to its retail partners’ platforms.
The application, which also offers shopping options, has partnered with more than 3,000 retailers.
Through giving brands benefits such as placement of curated content, promotions and deals, Tabby allows retailers to leverage its in-house marketing team and increase user traffic and visibility.
At present, the company entertains two million active shoppers in the UAE and Saudi Arabia, and receives more than three million clicks each month.
“We’re seeing Tabby’s place in people’s shopping journey go far beyond payments, with millions relying on Tabby to support their entire shopping experience,” said Hosam Arab, co-founder and CEO of Tabby.
“Tabby’s app helps customers discover where to shop and make the most out of their money, driving high-intent traffic to thousands of our retail partners.”
Eight of the UAE’s and the kingdom’s largest retail operators selected Tabby as their preferred payment partner in the past two years, including UAE’s Al Futtaim Group, Saudi Arabian e-commerce site Salla and the Landmark Group’s online-only fast fashion brand, STYLI.
Other brands in the region partnered with Tabby include IKEA, Shein, Adidas, Level Shoes, H&M and Bloomingdale’s.
In March, Tabby closed its $154 million Series B funding round raised by Sequoia Capital India and Saudi Technology Ventures.
Of the investment, Arab said: “The rapid adoption we continue to see today shows the urgency of consumer demand for flexible and honest payment experiences over predatory interest-driven credit.
“We are delighted to have Sequoia Capital India support our mission towards creating financial freedom as we embark on a key growth chapter in our journey.”
Tabby is ranked among the top 10 shopping applications in the UAE and Saudi Arabia on Apple’s AppStore, with 500,000 users installing it every month.
The company intends to expand its operations to more countries in the region by the end of next year.