News

Dubai Fintech Tabby Launches eCommerce “Tabby Shop” App

500,000 products will be available to purchase from multiple retail brands.

Published

11 months ago

August 29, 2023

Nour Nasir

Tabby

Tabby is a pioneering Buy Now, Pay Later fintech serving the United Arab Emirates and Saudi Arabia with over 5 million active users. Now, the startup will offer an additional service via a dedicated “Tabby Shop” app.

The app is a fully-fledged eCommerce marketplace where retailers can offer their products, opening up another revenue stream and capturing more online shoppers.

As well as wish-listing and deal alerts, the Tabby Shop app will offer coupon codes and exclusive offers. The platform will allow users to buy over 500,000 products at zero interest rates, covering brands in the fashion, beauty, electronics, and home categories.

Also Read: Ovasave Empowers Women To Tackle Difficult Fertility Choices

“For shoppers, discovering their favorite brands and products is easier than ever while allowing our retailers to tell their story to the region’s most powerful shopping community,” said Hosam Arab, CEO and co-founder of Tabby.

News

Mamo Completes $3.4M Funding Round To Enhance Fintech Services

The startup will use the influx of cash to expand into Saudi Arabia and across the wider GCC while improving its product offering.

Published

1 day ago

July 25, 2024

Nour Nasir

Mamo

UAE-based fintech Mamo has announced the completion of a $3.4 million funding round that will help the startup extend its market presence and improve its product offering. Investors included 4DX Ventures, the Dubai Future District Fund and Cyfr Capital.

Mamo’s platform offers “payment collection, corporate cards and expense management” to help small and medium-sized businesses consolidate and streamline their operations. With the latest influx of capital, Mamo will further develop its comprehensive suite of services and begin testing its product lines in Saudi Arabia, further extending its footprint across the GCC.

Imad Gharazeddine, co-founder and CEO of Mamo, stated: “We’ve been in the market for a while now and are incredibly proud of what our team has achieved. The holistic and expansive nature of our product offering has helped us continue to grow sustainably. This additional funding will allow us to reach our medium-term goals even faster. The support from new and existing investors is a testament to our strong expertise and the ability to deliver on our customer promise”.

Daniel Marlo, General Partner of lead investor 4DX Ventures, added: “We have immense trust in Imad’s vision, leadership and Mamo’s innovative approach to provide a user-friendly and comprehensive financial solution for SMEs that makes financial management more accessible and efficient. We are proud to partner with them and support their mission”.

Also Read: A Guide To Digital Payment Methods In The Middle East

Amer Fatayer, Managing Director of Dubai Future District Fund’s investment team, also commented: “Mamo’s localized product lines serve as an infrastructure for SME payments and spend management in UAE, a segment that is underserved by the country’s current banking infrastructure. The team has taken a product-first approach to consolidating SMEs’ financial journeys and building a fintech solution deeply embedded in a business’s core operations”.

To date, Mamo has raised around $13 million in investment funding and now boasts a team of 30 people. The company’s intuitive financial services platform has allowed over 1,000 businesses to consolidate their financial operations and significantly reduce payment fees.