Latham & Watkins acted for Sequoia Capital on Dubai startup Tabby's US$58 Million Financing
Latham & Watkins, an American multinational law firm, has advised Sequoia Capital, a venture capital firm, as the lead investor in a funding round for Tabby, a Dubai-based startup that offers buy now, pay later services. The funding round raised $58 million and valued the company at $660 million.
The funding round for Tabby was co-led by STV and included participation from PayPal Ventures, the venture arm of PayPal, which marked its first investment in the Gulf Cooperation Council (GCC). Other investors in the round included Mubadala, Arbor Ventures, and Endeavor Catalyst.
The funding raised in this round will be used by Tabby to expand its product line and support the company's growing operations in Egypt and other areas. The fintech company has raised over $410 million in equity and debt since its launch in 2019.
The Latham & Watkins team was led by Dubai partner Eyad Latif and counsel Omar Maayeh, with associates Stephanie Dang and Rehab Abdelwaheb. Another Dubai partner Brian Meenagh also provided advice on IP matters.