The article highlights the adaptation of fintech companies to regional consumer demand for credit options, specifically focusing on Tabby, a leading buy now, pay later (BNPL) provider in the MENA region. With low credit card penetration but high spending power in emerging markets, BNPL services have gained traction. Tabby's recent Series E funding round boosted its valuation to $3.3 billion, showcasing significant growth. The company has evolved from online transactions to in-store payments and a broader suite of financial services, enhancing customer engagement and profitability through innovative offerings.
Consumer demand for credit options varies across regions, and for fintechs, understanding these differences is key to survival.
The model is gaining such strong traction that Tabby, one of the region's pioneers, has now become the most valuable fintech in MENA after securing $160 million in a Series E round.
As our volumes have doubled, the profitability of the business has grown significantly... Customers used to rely on us only for e-commerce or point-of-sale spending.
Tabby later expanded into in-store payments, then deeper into retail and financial services. Its Tabby Card now allows users to spend flexibly.
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