{"id":23162,"date":"2023-05-31T14:27:37","date_gmt":"2023-05-31T14:27:37","guid":{"rendered":"https:\/\/www.meretailnews.com\/?p=23162"},"modified":"2023-05-31T14:27:37","modified_gmt":"2023-05-31T14:27:37","slug":"tabby-raises-debt","status":"publish","type":"post","link":"https:\/\/www.meretailnews.com\/2023\/05\/31\/tabby-raises-debt\/","title":{"rendered":"Tabby raises debt to $350 million"},"content":{"rendered":"<p><!-- VideographyWP Plugin Message: Automatic video embedding prevented by plugin options. --><br \/>\n<span data-preserver-spaces=\"true\">UAE-based buy-now-pay-later platform <a href=\"https:\/\/www.meretailnews.com\/2023\/03\/01\/namshi-partners-with-tabby-for-bnpl-services\/\">Tabby<\/a> has closed a new financing round resulting in upsizing its debt facility to $350 million, the company said on Wednesday.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">This is a 100 per cent increase since its last debt-raising announcement.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The financing will support Tabby\u2019s core business and allow it to serve more customers, retailers and purchases, a statement specified.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">CEO and co-founder of <a href=\"https:\/\/tabby.ai\/en-AE\" target=\"_blank\" rel=\"noopener\">Tabby<\/a>, Hosam Arab, said: \u201cWe are thrilled to partner with exceptional investors Atalaya, CoVenture and PFG to continue supporting Tabby\u2019s growth and redefining what people can do with their money.\u201d<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The financing round was led by San Francisco-based Partners for Growth, Atalaya Capital Management and CoVenture.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The Dubai-based platform raised $58 million in a funding round in January.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Tabby has more than 4 million active customers and so has collaborated with more than 15,000 businesses, including the top 10 largest retail groups in the region.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Currently valued at $660 million, the company is active in Saudi Arabia, the UAE and Kuwait.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The Tabby app sees more than 20,000 daily installs and drives roe than five million store visits a month.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>BNPL platform Tabby has closed a new financing round resulting in upsizing its debt facility to $350 million<\/p>\n","protected":false},"author":40,"featured_media":17575,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[154,1],"tags":[2791,4166],"_links":{"self":[{"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/posts\/23162"}],"collection":[{"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/comments?post=23162"}],"version-history":[{"count":3,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/posts\/23162\/revisions"}],"predecessor-version":[{"id":23166,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/posts\/23162\/revisions\/23166"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/media\/17575"}],"wp:attachment":[{"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/media?parent=23162"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/categories?post=23162"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/tags?post=23162"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}