Funding round
Tabby Series C
Tabby, which works in digital payment card services in United Arab Emirates, raised $58M in a Series C round announced on 18 Jan 2023, led by Sequoia Capital India and STV, at a $660M post-money valuation. 6 firms took part. It is Tabby's fourth venture round on record; the one before was a Series B in Mar 2022.
$58M
Amount raised
$660M
Post-money valuation
6
Investors
2 leads
8.8%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Tabby at $660M after the new money. The $58M bought investors about 8.8% of the company. It came 10 months after Tabby's Series B. It is 7.4% of the $780M Tabby has raised in the venture rounds on record. Tabby raised again 12 months later: a Series D round of $250M in Jan 2024, at $1.50B 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 7 Mar 2022, led by Sequoia Capital India and STV $54M
- Debt not a venture round 3 Aug 2022 $150M
- Series C this round 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 4 other firms.
Lead investors
- Sequoia Capital India new investor
- STV new investor
Also in the round
- PayPal Ventures new investor
- Mubadala Capital backs 61 venture-backed companies new investor
- Arbor Ventures new investor
- Endeavor backs 236 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, scaling operations and working capital.
- Product development
- Geographic expansion
- Scaling operations
- Working capital
Comparable rounds
How it compares
26 Series C rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $58M, and this round was close to the median. The closest in time, other companies' Series C rounds in Payment Processing & Point of Sale:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Aspire Payment Processing & Point of Sale | 1 Feb 2023 | $430M | not disclosed | not named |
| Payment Processing & Point of Sale | 4 Oct 2022 | $46M | not disclosed | Anthos Capital and Mars Capital |
| Payment Processing & Point of Sale | 24 Apr 2023 | $41M | not disclosed | Orange Ventures and Portage |
| Payment Processing & Point of Sale | 3 Oct 2022 | $33M | not disclosed | Regal Funds Management |
| Payment Processing & Point of Sale | 20 Apr 2023 | undisclosed | not disclosed | SoftBank Ventures Asia |
| Payment Processing & Point of Sale | 7 Sep 2022 | $60M | not disclosed | Alpha Wave Global |
| Payment Processing & Point of Sale | 23 May 2023 | $48M | not disclosed | Avenir |
| Payment Processing & Point of Sale | 20 Sep 2022 | $35M | not disclosed | Norwest |
Sources
Where this comes from
Reported by 5 sources.
Questions
Frequently asked
How much did Tabby raise in its Series C round?
Tabby raised $58M in its Series C round, announced in Jan 2023.
Who led Tabby's Series C round?
Sequoia Capital India and STV led it, with PayPal Ventures, Mubadala Capital, Arbor Ventures and Endeavor.
What was Tabby's valuation at the Series C round?
$660M post-money.
How does it compare with other Series C rounds in Payment Processing & Point of Sale?
26 Series C rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $58M, and this round was close to the median.
Did Tabby raise again after this round?
Yes: a Series D round in Jan 2024 of $250M at $1.50B post-money.