Tabby surges to $6.5 billion valuation

Gulf-based fintech company Tabby has achieved a valuation of $6.5 billion after completing a new investment round. The transaction marks a significant step up in the company’s assessed worth and places it among the most highly valued fintech firms in its region.

The investment round was led by Blue Pool Capital, a Hong Kong investment firm that manages the assets of Alibaba (9988.HK) Group Holding Ltd.’s chairman Joseph Tsai. Participation from this investor underscores continued interest in the sector and in Tabby’s business specifically.

Tabby’s new $6.5 billion valuation follows an earlier benchmark of $4.5 billion reached less than a year ago in a secondary share sale. The increase over a relatively short period highlights the pace at which investor views on the company’s value have shifted.

The earlier secondary share sale provided a reference point for Tabby’s worth, and the subsequent funding round has now reset that reference higher. This progression illustrates how new capital commitments can drive changes in private market valuations.

At its current level, Tabby’s valuation now exceeds the market capitalization of New York-listed Klarna Group Plc, which stands at about $5.2 billion. Klarna’s market value has declined more than 60% since its listing last September amid softer conditions in key markets such as Germany.

The shift places the Gulf fintech ahead of a well-known global buy-now-pay-later and fintech peer in valuation terms. It also reflects differing trajectories between a privately valued regional player and a publicly traded international competitor.

The new funding round and resulting valuation position Tabby as a prominent name within the Gulf’s fintech ecosystem. The company’s revised valuation suggests robust investor appetite for regional fintech platforms even as some listed peers face market headwinds.

By surpassing Klarna’s current market capitalization, Tabby’s latest round highlights how private funding dynamics and public market performance can diverge within the global fintech sector. The development may influence how investors assess growth prospects and risks across different markets and corporate structures.