Partners for Growth and Atalaya Capital Management extend $150m credit facility to Tabby

Hourani & Partners played a pivotal role in facilitating a significant financing arrangement to Tabby Inc., a leading buy-now-pay-later (BNPL) fintech company.

Tabby Inc. has secured a $150m credit facility from Partners for Growth (PFG) and Atalaya Capital Management, with Hourani & Partners representing both lenders in this landmark transaction. This facility marks Atalaya Capital Management’s first deal in the MENA region, while PFG has upsized their initial $50m commitment under the new facility. In aggregate, this represents the largest credit facility ever secured by a fintech company in the GCC.

Following Tabby’s Series B extension earlier this year, the fintech company has now raised a total of $275m in capital. This investment fortifies Tabby’s balance sheet and supports its sustained growth in transaction volumes and product expansion. Major brands like H&M, Bath & Body Works, Nike, and Swarovski have recently chosen Tabby as their payments partner, further solidifying its position in the market.

Our Banking & Finance team, led by Mustafa Kamal* and supported by Rudolf Goldschmidt, Khalid Alhamdan*, Lea Chahine, Ellen Ray, and Sophia Niazi, adeptly navigated the intricacies of this multi-jurisdictional financing deal.

“Our collaboration with Partners for Growth and Atalaya Capital Management in securing this credit facility underscores our firm’s expertise in navigating complex financing arrangements,” said Rudolf Goldschmidt, Partner at Hourani & Partners.
 
*Member of ZH Partners – Relationship firm in Saudi Arabia