Dubai-based buy now, pay later (BNPL) platform Tabby has launched in Egypt, hoping to take advantage of the Arab world’s most populous country.
Backed by leading regional and global investors with $275 million in its war chest, the Dubai startup aims to ride the wave of e-commerce in Egypt that hit $5.2 billion in revenue last year.
"We are thrilled to be a growth partner for our retail partners, assisting them in reaching millions of active shoppers," said Ahmed Khalil, Tabby's general manager in Egypt, in a statement. abby enables customers to buy goods and pay for them in interest-free instalments without the need for a credit card. Tabby claims to have over 2 million active users in Saudi Arabia, the United Arab Emirates, and Kuwait.