News
Mubadala-Backed Tabby Raises $200 Million In Funds
The latest series D funding round gives the BNPL platform a value of $1.5 billion.
Backed by UAE investment company Mubadala, Dubai-based Buy Now Pay Later platform Tabby has raised $200 million in funding, making it part of an elite group of MENA companies known as “unicorns” due to their market value of $1 billion or more.
Tabby, now valued at a staggering $1.5 billion, joins fellow UAE startups like Careem, Kitopi, and Swvl, along with Saudi Arabia’s STC Pay and Egypt’s Fawry.
اليوم، نعلن أن تابي أصبحت أول شركة ملياريّة في قطاع التقنية المالية في المنطقة، بعد أن أغلقت جولة استثمارية Series D بقيمة 200 مليون دولار وبتقييم 1.5 مليار دولار. كل الشكر لمجتمع تابي من المتسوّقين والشركاء على دعمهم المستمر. pic.twitter.com/YnuJdembCy
— Tabby | تابي (@paywithtabby) November 1, 2023
US-based Wellington Management was in charge of the latest funding round, with Hong Kong’s Blue Pool Capital and Abu Dhabi’s Mubadala Investment Capital also taking part, with additional investment also coming from Saudi Arabia’s STV, PayPal Ventures and Arbor Ventures.
Tabby manages more than $6 billion worth of yearly transactions, and the new funding will be used to further develop the company’s financial and shopping services for both consumers and retailers.
“With this investment, we can advance our mission across Saudi Arabia and the UAE,” said Hosam Arab, CEO and co-founder of Tabby.
Also Read: MENA Online Electronics Sales Grew By 7% In 2023
The BNPL business model, which allows shoppers to spread payments for online purchases over several interest-free installments, has boomed since the COVID-19 pandemic and is projected to hit $565.8 billion by 2026, representing a compound annual growth rate of nearly 26%.
Tabby is currently active in Saudi Arabia, Kuwait, and the UAE. In a January 2023 funding round, the company had already raised $58 million, valuing the BNPL provider at $660 million.
Meanwhile, plenty more BNPL providers are jostling for a share of the enormous MENA market, including the likes of Postpay, Cashew, Spotii, and Tamara. Only time will tell if Tabby’s rivals are also able to achieve coveted unicorn status, though the MENA region is expected to produce at least 45 billion-dollar startups by the end of the decade, led by Saudi Arabia.
News
Instagram Redraws Its Wordmark And The Internet Reads “Instagzam”
Instagram’s first wordmark refresh in a decade arrives with new fonts, a restrained gradient — and a Reddit verdict of sidegrade.
Although Instagram’s famous camera icon hasn’t changed, the company has refreshed the handwritten wordmark at the top of its app. This is the first redesign we’ve seen in ten years, and one the internet promptly set about renaming.
“The wordmark at the top of the app hasn’t changed in 10 years, so it was time for a refresh,” Instagram head Adam Mosseri wrote in a post on August 13, describing the new version as “cleaner and more modern” while keeping references to the original design.
Instagram says its team explored hundreds of options — all-caps lettering, camera-inspired concepts, even literal handwriting — before returning to script. “Script reflects individuality, so referencing that felt right,” Instagram director of product design Jasmine Probst said in Meta’s announcement. “The new wordmark is bolder and simpler, with touches of unexpectedness. It cues individual expression, a personal voice, both of which have always been core to Instagram”.
The wordmark is part of a broader brand overhaul: an updated Instagram Sans typeface, two new fonts — the hand-drawn Instagram Pen and Instagram Mono — plus refreshed motion and layouts, and more restrained use of the signature gradient. The wordmark is rolling out globally now, with the rest arriving throughout 2026 and beyond.
Also Read: Spotify Will Now Tell You If Your Favorite Artist Isn’t Real
The design mixes cursive and print lettering, some characters connected and others floating free. That hybrid approach, combined with unusually shaped “s” and “r” characters, led some users to conclude the logo actually reads “Instagzam”. On the r/logodesign subreddit, one user said the wordmark looked “fan-made,” like something built in Canva; another called it “an unsettling mix of manuscript and cursive”; a third summarized it as a “sidegrade” — or, inevitably, a “zidegrade”.
Not everyone was hostile to the new look. Some found the half-cursive design stylish and surprisingly readable, while others called it an improvement on its predecessor, and one commenter argued Instagram was simply adopting minimalist branding later than everyone else. Either way, the platform now has a refreshed identity, three updated fonts, and an unofficial new pronunciation.
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