Namshi, the region’s e-commerce shopping giant has partnered with BNPL service platform Tabby, to enable customers to access flexible payment solutions. Namshi shoppers can now choose to pay for purchases in four instalment-free instalments.
The announcement comes in line with Namshi’s goal of providing users with flexible and user-friendly payment options.
“When we founded Namshi, we set out to create an unparalleled shopping experience for fashion lovers in the MENA region. With the support of the team at Namshi, Tabby’s now able to help continue that mission to even greater heights,” said Hosam Arab, CEO and Co-Founder.
Manav Lohia, Namshi said, “Our customers are always looking for ways to save money, so we’re always looking for ways to give them what they want. BNPL with Tabby is a great addition to our offering, and it gives our customers more flexibility than ever when it comes to paying for what they want.”
Last month, Tabby raised $58m from Sequoia Capital India, STV, Paypal Ventures and more. The company also works with more than 10,000 brands. The company crossed 3 million active shoppers and grew 5 times in revenue in the last year.
PayPal Ventures also took part in the Series C capital fundraising, along with Mubadala Investment Capital, Saudi venture capital firm STV, Arbor Ventures and Endeavor Catalyst, Tabby said in a statement. The round valued Tabby at $660m.
“As we continue to scale, the valuation should continue to follow,” Arab said in an interview. “We’re not fixated on any particular number or on any particular titles.”
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