Tabby Acquires Saudi Digital Wallet Tweeq in Its First-Ever Acquisition
MENA's most valuable fintech agreed to buy SAMA-licensed e-money institution Tweeq to move beyond BNPL into digital spending accounts, cards and money management.
In September 2024, Dubai- and Riyadh-based Tabby announced a definitive agreement to acquire Tweeq, a Saudi digital wallet licensed by the Saudi Central Bank (SAMA), marking the first acquisition in Tabby's history. Terms were undisclosed. Tweeq, founded in 2020, is one of the early electronic money institutions authorised to operate in the Kingdom.
The deal deepens Tabby's push beyond buy-now-pay-later toward a broader financial-services suite spanning digital spending accounts, cards and money-management tools. Tabby, valued at $1.5bn in its 2023 Series D, said Tweeq would continue to operate while the two businesses integrate.