UAE’s Tabby expands to Egypt

UAE’s Tabby expands to Egypt

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• September 6, 2022

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• UAE-based fintech Tabby has expanded into Egypt, announcing partnerships with several retailers to offer shoppers the opportunity to pay in instalments in the North African country.
• Founded by Hosam Arab in 2019, Tabby offers users a Buy Now Pay Later (BNPL) facility for online and offline shopping.
• Tabby is guaranteed $275 million in funding The most recent so far was a $150 million debt financing from Atalaya Capital Management and Partners for Growth (PFG) in August.
• Tabby is a Wamda portfolio company.

Press release:

Tabby, the leading payments and shopping app in the Middle East, has announced its launch in Egypt, enabling shoppers to pay over time without any interest or fees. Tabby works with brands including Lacoste, L’azurde, Faces, In Your Shoe, KAI Collections, Ariika, Marcqa, Dresscode and Floward to offer flexible payment options at checkout, giving Egyptians the opportunity to control their spending and make the most of their money.

Tabby currently has over 2 million active shoppers in the top 10 shopping apps in the Middle East. With Tabby’s “Split in 4” product, shoppers will be able to split their purchases into four interest-free payments at store checkout, both online and offline. The Tabby app lets customers discover where they can split payments and track their spending. Tabby also helps drive high-intent traffic to thousands of retail partners.

Ahmed Khalil, General Manager of Tabby Egypt, said: “Expanding in Egypt is a proud moment for Tabby. We are delighted to offer Egyptians a flexible and honest payment experience free of interest and fees. We are also delighted to be our retail partner. growth partners, helping them tap into millions of active shoppers.” Khalil added, “We look forward to becoming Egypt’s preferred BNPL service provider after securing $275 million in funding from leading global and regional investors. .”

The launch of Tabby in Egypt is an extension of the growing maturity of the fintech sector in the region and the rise of e-commerce in Egypt. The app is building financial products designed to create financial freedom in the way people shop, earn and save by reshaping their relationship with money. Built on trust rather than interest, the app fosters commerce by empowering shoppers with more purchasing power to encourage responsible consumption.

Since its founding in 2019, the company has been dedicated to helping clients navigate complex relationships with money by crafting honest products and stories that support their financial goals and help them build relationships with money they can be proud of.