Riyadh - Sharikat Mubasher: Tabby, the leading financial services company in Saudi Arabia, announced the completion of a secondary sale of shares held by certain existing shareholders.

As part of the transaction, HSG, Boyu Capital, and others acquired shares from existing investors, resulting in an implied company valuation of $4.5 billion, the company announced in a press release today.

Commenting on this milestone, Hosam Arab, CEO and Co-Founder of Tabby, said: “We are proud to welcome our new shareholders who share Tabby’s ambitions and the impact we’re making on financial services across the region.”

For his part, Rock Wang, Managing Director at HSG, stated: “We are excited to partner with management as they continue to build a comprehensive financial services flywheel in a region with tremendous growth potential.”

It is worth mentioning that over 40,000 global brands and small businesses use Tabby’s technology to accelerate growth and gain loyal customers by offering flexible payments online and in stores.