Tabby, the leading fintech company in the Middle East region, has successfully secured a staggering USD 700 million in debt financing from global investment bank J.P. Morgan. This financing round marks a major milestone for Tabby and demonstrates investor confidence in the company’s growth prospects and innovative business model.

With this substantial influx of capital, Tabby plans to further enhance its product offerings and expand its operations across the Middle East. The company has gained significant traction due to its “Buy Now, Pay Later” solution, which allows consumers to make purchases and pay for them in installments without any interest or hidden fees.

Tabby’s unique approach to financing has resonated with consumers, leading to rapid growth and increased adoption of its platform. By partnering with a reputable institution like J.P. Morgan, Tabby strengthens its position in the market and gains access to extensive financial expertise and resources.

Speaking about the debt financing round, Tabby’s CEO, Ahmed Labib, commented, “We are thrilled to have J.P. Morgan as our financial partner, supporting our objective of making innovative, flexible financing accessible to consumers across the region. This funding will fuel our mission to empower consumers and merchants through our seamless payment solutions.”

Chris Blum, Head of Middle East Banking at J.P. Morgan, expressed his confidence in Tabby’s business model, stating, “Tabby has proven to be a disruptive force in the fintech industry and has rapidly emerged as a leader in the Middle East market. We are excited to be part of their journey and believe that their customer-centric approach and commitment to financial inclusion will have a long-lasting impact.”

This debt financing round is expected to propel Tabby to new heights, allowing it to consolidate its market position and accelerate its expansion plans. With the backing of J.P. Morgan, Tabby is well-positioned to revolutionize the payment landscape in the Middle East and beyond.