Sequoia India co-leads Middle East e-commerce firm tabby's $54-M Series B extension

Tabby, the Dubai-based buy now, pay later (BNPL) platform that lets users shop, pay later and earn cash from over 3,000 global brands, has completed a Series B extension of USD 54 million. Sequoia Capital India and STV co-led the extension round. Existing investors such as Arbor Ventures, Mubadala Investment Capital and Global Founders Capital (GFC) participated. The BNPL provider plans to use this extension round to expand its consumer product offering and facilitate its international expansion. Tabby had raised USD 50 million as part of the initial Series B round led by STB in August 2021. That investment had valued the company at USD 300 million.