Dechert has advised tabby partners (“tabby”), the leading MENA ‘buy now, pay later’ provider on its US$23 million Series A investment financing round, marking one of the largest Series A funding rounds in the Middle East, with investors including Arbor Ventures, Mubadala, STV, MSA Capital and Raed Ventures. This representation continues to solidify Dechert’s expertise and experience as a leader in the MENA venture capital and Fintech sector.
Founded in 2019, tabby offers retail online and in-store customers the ability to defer paying for their purchases for up to 30 days or to pay in four equal monthly installments at zero cost to the consumer. The seed funding will fuel tabby’s next stage of growth, helping the startup materially scale its product and engineering capabilities in addition to its lending capacity.
This closing coincides with the launch of a form of term sheet for Series A financings for the Middle East region, an initiative pioneered by Dechert and Clara Partners and endorsed by a number of the region’s leading venture capital firms, including Wamda Capital, Nuwa Capital, and 500Startups (all clients of Dechert), in an effort to help streamline venture capital financings in the region in a similar manner as entrenched in other jurisdictions.
The Dechert team advising tabby was led by Dubai-based corporate partner Philip Dowsett, with support from associate Katrina Morrison.
About Dechert
Dechert is a leading global law firm with 26 offices around the world. We advise on matters and transactions of the greatest complexity, bringing energy, creativity and efficient management of legal issues to deliver commercial and practical advice for clients.
