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A bar chart that displays the valuations of the most valuable startups in the Middle East and North Africa. Tabby leads at $3.3 billion, followed by Dream Games at $2.75 billion.

Startups in the Middle East and North Africa with the highest valuations

BNPL startup Tabby raised a $160 million Series E valuing it at $3.3 billion.

Why it matters: A BNPL business is now the most valuable startup in the Middle East.

Driving the news: Existing investors Blue Pool Capital and Hasana Investment Co. led the round, with participation from STV and Wellington Management.

Riyadh-based Tabby was last valued at $1.5 billion in late 2023.

Active in Saudi Arabia and the UAE, it says it has doubled its annualized transaction volume to over $10 billion since that round.

Between the lines: BNPL remains a relatively small slice of the overall payments pie in the region. Debit cards (about 30% of transactions, per Worldpay) were the most popular payment form in Saudi Arabia as of 2024.

Credit cards, meanwhile, have gained market share in UAE, representing over 37% of payments in the region.

Digital wallets have been showing the fastest growth — with use in the 20% range for both countries.

The big picture: Tabby, which acquired digital wallet Tweeq in the middle of last year, is expected to seek an IPO in Riyadh later this year or in 2026.

BNPL startup Tabby gets $3.3B valuation

The BNPL is the highest valued startup in MENA.

BNPL startup Tabby raised a $160 million <a class="gtmContentClick" data-vars-link-text="Series E" data-vars-click-url="https://tabby.ai/en-AE/press/series-e-funding" data-vars-content-id="8499e8bd-86fa-4ea5-b24d-20ab5ee1c7f3" data-vars-headline="BNPL startup Tabby gets $3.3B valuation" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://tabby.ai/en-AE/press/series-e-funding" target="_blank">Series E</a> valuing it at $3.3 billion.Why it matters: A BNPL business is now the most valuable startup in the Middle East.

BNPL startup Tabby gets $3.3B valuation

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