Tabby already helps millions of people in the MENA region stay in control of their finances. Now, with the integration of Tumodo’s platform, business travelers will gain improved control over their travel expenses, along with greater transparency and accountability.

“The collaboration with Tabby signifies a major step forward in our mission to digitize business travel in the UAE and GCC, including the use of AI technologies. Now, we can extend brands’ reach to a wider audience and lead to a sustainable future,” said Vladimir Kokorin, founder of Tumodo.

Tumodo’s MENA expansion also comes at a time where the company is doubling its efforts to promote sustainable travel. Tumodo is advising all customers and partners on how they can be more eco-friendly when it comes to travel, and how to minimize the ecological impact of business trips.

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By 2022, spending in the global business travel market had risen to $1.03 trillion. However, that figure is expected to surpass the pre-pandemic figure of $1.4 trillion sometime this year. Despite many companies continuing to prefer online meetings, the business travel market continues to grow rapidly and is expected to reach $1.8 trillion by 2027.

The integration of Tumodo’s travel platform into Tabby’s service will surely enhance business efficiency and reinforce both companies’ commitments to sustainability. Meanwhile, the UAE will also benefit as it continues to grow into a leading business hub focused on sustainable practices.

The post Tumodo & Tabby Drive Innovation In The UAE’s Travel Market appeared first on Tech Magazine.

Tabby, now valued at a staggering $1.5 billion, joins fellow UAE startups like Careem, Kitopi, and Swvl, along with Saudi Arabia’s STC Pay and Egypt’s Fawry.

اليوم، نعلن أن تابي أصبحت أول شركة ملياريّة في قطاع التقنية المالية في المنطقة، بعد أن أغلقت جولة استثمارية Series D بقيمة 200 مليون دولار وبتقييم 1.5 مليار دولار. كل الشكر لمجتمع تابي من المتسوّقين والشركاء على دعمهم المستمر. pic.twitter.com/YnuJdembCy

— Tabby | تابي (@paywithtabby) November 1, 2023

US-based Wellington Management was in charge of the latest funding round, with Hong Kong’s Blue Pool Capital and Abu Dhabi’s Mubadala Investment Capital also taking part, with additional investment also coming from Saudi Arabia’s STV, PayPal Ventures and Arbor Ventures.

Tabby manages more than $6 billion worth of yearly transactions, and the new funding will be used to further develop the company’s financial and shopping services for both consumers and retailers.

“With this investment, we can advance our mission across Saudi Arabia and the UAE,” said Hosam Arab, CEO and co-founder of Tabby.

Also Read: MENA Online Electronics Sales Grew By 7% In 2023

The BNPL business model, which allows shoppers to spread payments for online purchases over several interest-free installments, has boomed since the COVID-19 pandemic and is projected to hit $565.8 billion by 2026, representing a compound annual growth rate of nearly 26%.

Tabby is currently active in Saudi Arabia, Kuwait, and the UAE. In a January 2023 funding round, the company had already raised $58 million, valuing the BNPL provider at $660 million.

Meanwhile, plenty more BNPL providers are jostling for a share of the enormous MENA market, including the likes of Postpay, Cashew, Spotii, and Tamara. Only time will tell if Tabby’s rivals are also able to achieve coveted unicorn status, though the MENA region is expected to produce at least 45 billion-dollar startups by the end of the decade, led by Saudi Arabia.

The post Mubadala-Backed Tabby Raises $200 Million In Funds appeared first on Tech Magazine.

The app is a fully-fledged eCommerce marketplace where retailers can offer their products, opening up another revenue stream and capturing more online shoppers.

As well as wish-listing and deal alerts, the Tabby Shop app will offer coupon codes and exclusive offers. The platform will allow users to buy over 500,000 products at zero interest rates, covering brands in the fashion, beauty, electronics, and home categories.

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“For shoppers, discovering their favorite brands and products is easier than ever while allowing our retailers to tell their story to the region’s most powerful shopping community,” said Hosam Arab, CEO and co-founder of Tabby.

The post Dubai Fintech Tabby Launches eCommerce “Tabby Shop” App appeared first on Tech Magazine.