# Tabby hits $6.5 billion on a $230 million round

> Saudi BNPL app Tabby just raised $230 million to go deeper in the Gulf, while US shoppers quietly pick card installments instead.
- Title: Tabby hits $6.5 billion on a $230 million round · Pymnts
- Summary: Saudi BNPL app Tabby just raised $230 million to go deeper in the Gulf, while US shoppers quietly pick card installments instead. Tabby is betting on…
- Keywords: bnpl, fintech, funding, saudi arabia, payments, business, finance, Tabby, hits, billion, 230, million
- Source: Pymnts — https://pymnts.com/news/investment-tracker/2026/tabby-raises-230-million-to-expand-bnpl-offering
- Author: PYMNTS
- Published: 2026-09-15T19:11:20+00:00
- Read time: 1 min
- Topics: bnpl, fintech, funding, saudi arabia, payments, business, finance
## A $230 million raise
Saudi Arabia-based BNPL company Tabby announced $230 million in new funding on Monday, September 14, valuing the business at $6.5 billion.
## Licences unlock the next act
Tabby now holds consumer and SME finance licences in Saudi Arabia and a stored value facilities licence in the UAE, letting it sell far more than pay-in-four.

> These licences allow us to build well beyond where Tabby started
## Deeper, not wider
CEO Hosam Arab told Reuters the money is about going deeper in Saudi Arabia and the UAE, Tabby's two core markets, rather than chasing new countries.

> are primarily about giving us the capital to go deeper in our two core markets
## The scale behind the number
Tabby processes more than $18 billion in annualized transaction volume for 25 million registered users, working with 70,000 businesses including Amazon and Shein.
## Cards beat BNPL on vacation
New PYMNTS research found 26% of travel spenders used credit card installments this summer against just 8% who used BNPL. The incumbent plan won the trip.

> Credit Card Installments Outrun BNPL in Summer Travel Surge
## Who splits payments, and why
45% of Gen Z and 42% of millennials used card installments, and $100k+ earners were 57% more likely than those under $50k. BNPL users want budget fit, card users want points.

> BNPL users placed the most value on selecting a payment frequency that fit their monthly budgets.
## Key takeaway

Tabby is betting on licences and depth in two markets rather than expansion everywhere, and the installment race is being won by credit cards, not BNPL apps.