Funding round
Tabby Series B
Tabby, which works in digital payment card services in United Arab Emirates, raised $54M in a Series B round announced on 7 Mar 2022, led by Sequoia Capital India and STV. 5 firms took part, 4 of them already investors. It is Tabby's third venture round on record; the one before was a Series A in Dec 2020.
$54M
Amount raised
Not disclosed
Post-money valuation
5
Investors
2 leads
Valuation
What this round says about the price
Tabby did not disclose a valuation in this round. It came 15 months after Tabby's Series A. It is 6.9% of the $780M Tabby has raised in the venture rounds on record. Tabby raised again 10 months later: a Series C round of $58M in Jan 2023, at $660M post-money.
Tabby's funding rounds
Tabby has 7 venture rounds on record and 6 other deals. This one is highlighted.
- Seed 11 Nov 2019, led by Global Founders Capital $2.0M
- Other not a venture round 8 Jun 2020, led by RAED Ventures $7.0M
- Debt not a venture round 8 Dec 2020 amount not disclosed
- Series A 8 Dec 2020, led by Arbor Ventures and Mubadala Capital $23M
- Debt not a venture round 22 Jun 2021 $50M
- Series B this round 7 Mar 2022, led by Sequoia Capital India and STV $54M
- Debt not a venture round 3 Aug 2022 $150M
- Series C 18 Jan 2023, led by Sequoia Capital India and STV $58M$660M post-money
- Debt not a venture round 31 May 2023, led by Partners for Growth $350M
- Debt not a venture round 21 Dec 2023 $700M
- Series D 3 Jan 2024 $250M$1.50B post-money
- Series E 12 Feb 2025, led by Blue Pool Capital and Hassana Investment Company $160M$3.30B post-money
- Series F 14 Sep 2026, led by Blue Pool Capital $233M$6.50B post-money
Investors
Who put money in
Sequoia Capital India and STV led the round with 3 other firms. STV, Arbor Ventures, Mubadala Capital and Global Founders Capital had backed Tabby before.
Lead investors
- Sequoia Capital India new investor
- STV existing investor
Also in the round
- Arbor Ventures existing investor
- Mubadala Capital backs 61 venture-backed companies existing investor
- backs 295 venture-backed companies existing investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
73 Series B rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $35M, and this round was 1.5 times the median. The closest in time, other companies' Series B rounds in Payment Processing & Point of Sale:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Payment Processing & Point of Sale | 23 Mar 2022 | $100M | not disclosed | K1 Investment Management |
| Payment Processing & Point of Sale | 3 Mar 2022 | $100M | $1.00B | Headline and Hostplus |
| Payment Processing & Point of Sale | 23 Mar 2022 | $100M | not disclosed | K1 Investment Management |
| Payment Processing & Point of Sale | 7 Feb 2022 | $85M | not disclosed | Tiger Global |
| Payment Processing & Point of Sale | 3 Feb 2022 | $60M | not disclosed | SoftBank Latin America Fund |
| Payment Processing & Point of Sale | 3 Feb 2022 | $55M | not disclosed | Tiger Global |
| Payment Processing & Point of Sale | 12 Apr 2022 | $42M | not disclosed | General Catalyst |
| Payment Processing & Point of Sale | 22 Feb 2022 | $31M | not disclosed | JAM Fund |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did Tabby raise in its Series B round?
Tabby raised $54M in its Series B round, announced in Mar 2022.
Who led Tabby's Series B round?
Sequoia Capital India and STV led it, with Arbor Ventures, Mubadala Capital and Global Founders Capital.
What was Tabby's valuation at the Series B round?
It was not disclosed.
How does it compare with other Series B rounds in Payment Processing & Point of Sale?
73 Series B rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $35M, and this round was 1.5 times the median.
Did Tabby raise again after this round?
Yes: a Series C round in Jan 2023 of $58M at $660M post-money.