Tabi Raises $233 Million: The Saudi fintech company Tabi has raised approximately $233 million.
In a new Series F funding round, its valuation rose to $6.5 billion, according to Reuters.
The funding round was led by Blue Pole Capital, backed by Joe Tsai, co-founder of Alibaba.
HSG, Wellington Management, and Arbor Ventures also participated.
TABI’s new valuation reflects remarkable growth in the company’s standing within the fintech sector.
It has jumped by approximately 44%, compared to a valuation of $4.5 billion in October of last year.
The company’s list of investors also includes Abu Dhabi’s sovereign wealth fund, “Mubadala.”
This underscores the interest of major investment institutions in the growth of the digital financial services sector in the region.
The new funding is expected to support Taby’s plans to expand and develop its digital services,
This comes amid rising demand for flexible payment solutions and modern financial technologies in Saudi Arabia and regional markets.
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