Retail

Tabby gets $7-mn funding, partners with Apparel Group

12 Jun '20

1 min read

Pic: Shutterstock

United Arab Emirates (UAE)-based financial tech start-up Tabby secured $7 million in funding to drive regional expansion into Saudi Arabia and foster domestic growth, it announced recently. It also signed an agreement with the Apparel Group to offer its solution across the retailer’s online portfolio, which includes brands like 6thStreet, Tommy Hilfiger and ALDO.

The funding round, led by Raed Ventures with participation from MSA Capital and existing investor Arbor Ventures, will strengthen the firm’s presence, according to Gulf media reports.

Established last year, Tabby aims to empower customers to conveniently shop while remaining in control of their finances.

Its ‘Pay Later’ option offers an alternative to cash on delivery by allowing customers to purchase products online using only their mobile phone number and email address while requiring no preregistration or credit card. Its ‘Pay in Installments’ option offers customers the flexibility to pay for their purchases in multiple, interest-free installments without requiring a credit card.

Tabby has also partnered with over 20 regional e-commerce retailers, including Abdul Samad Al Qurashi and Golden Scent.

Fibre2Fashion News Desk (DS)

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