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Tabby enables users to buy as many times as they want from ToYou, with a single bill at the end of the month without interest or fees
Saudi-based buy-now-pay-later app Tabby is working with banks for an IPO, Bloomberg reported.
The fintech unicorn is working with HSBC Holdings Plc, JPMorgan Chase & Co. and Morgan Stanley on the deal, Bloomberg reported citing people familiar with the matter.
However, no final decisions have been made on the timing or the size of the offer.
Founded in 2019 in the UAE by Hosam Arab, Tabby has more than $6 billion in annualised transaction volume.
Prior to the planned IPO, Tabby had raised $200 million in Series D equity financing at a valuation of $1.5 billion.
Tabby has 10 million users and works with over 30,000 brands, including 10 of the largest retail groups in the MENA region.
(Editing by Seban Scaria seban.scaria@lseg.com)
