(Writes through, adds CEO comments)DUBAI, Aug 4 (Reuters) - Buy now, pay later firm Tabby will accelerate expansion plans into new Arab markets after raising $50 million in its latest funding round, giving it a $300 million valuation, it said on Wednesday. Like other buy now, pay later firms, Tabby offers short-term credit for online and in-store purchases at zero interest to the consumer. The bulk of its revenue is earned via merchant fees though consumers are charged penalty fees if they miss a payment. The Series B funding round included investment by Global Founders Capital, Saudi venture capital firm STV, Delivery Hero and Mubadala Investment Capital. To date, Tabby says it has raised more than $130 million, including $50 million in debt which it announced in June.

Source: The North Africa Journal August 04, 2021 12:43 UTC