[ad_1]
Chimera, the Abu Dhabi-based private investment firm, has announced it is backing Tabby, the UAE fintech leader, with its latest US$350 million debt financing.
Chimera’s $50 million commitment will support Tabby’s expansion plans in the GCC market with global partners. The investment underscores Chimera’s capabilities and focus on supporting the growth of technology-enabled businesses through credit solutions, while leveraging the firm’s well-established venture capital platform.
Syed Basar Shueb, Chairman, Chimera Abu Dhabi, added: “Chimera remains at the forefront of the region’s innovative and vibrant fintech scene through its strong commitment to delivering strong returns and investing in high-potential businesses. Tabby’s commitment is fully in line with our support mission to transform the financial landscape in the region and pave the way for more value-added credit investments in the future.”
Naush Malik, Head of Credit Strategy, Abu Dhabi, Chimera, commented: “Chimera recognizes the need to support innovative businesses across the growth curve and help them scale through innovative financing solutions. deep execution capabilities to support their vision, and we are pleased to support them as they continue to provide much-needed financial solutions to regional consumers.”
Tabby CEO and Co-Founder Hosam Arab added: “Through Chimera, we are proud to be backed by institutional debt capital in the region and to join hands with like-minded Help. Greater financial freedom in the Middle East.” – trade arab news agency
[ad_2]
Source link