TABBY- A FINTECH STARTUP IN UAE NETS $7M FUNDING FOR NEW LAUNCH TECHUGO
EXPIRED
The Dubai-based company, Tabby has partnered with 20 different regional e-commerce retailers that consist of Golden Scent and Abdul Samad Al Qurashi. The brand’s ‘Pay Later’ option delivers a different alternative for cash on delivery. It allows the buyers to shop for the products online with the help of a mobile phone number and an email. One does not require to use a credit or debit card.
This is a highly impressive and promising product that structurally solves any kind of friction that is present in a transaction. The platform looks after the problems faced by both the merchants and the buyers. This quality presents a great way to tackle problems persisting in the global epidemic. Saed Nashef from Raed Ventures expresses great delight over the partnership of its launch in Saudi Arabia.
The company has signed an agreement with a retail group in the Middle East, known as the Apparel Group that offers its solution throughout its entire online portfolio. Apparel Group includes brands like Aldo and Tommy Hilfiger. The CEO of 6th street Dharmin Ved is eagerly looking forward to working with Tabby. The reason is that cash on delivery presents a lot of problems in the market and decreases the quality of operation. With the help of a better alternative of COD provided by Tabby, the companies are looking forward to impressing their customer base.
The spending patters od the buyers are transforming greatly with the spread of COVID-19. E-commerce in GCC is improving and expanding as the users shift their shopping experiences to digital platforms. The solutions provided by the brand will help the users and retails to improve the management of the total spending. This is done by dividing the purchases into various installments. The introduced payment solutions will provide a lot of advantages. Some of the benefits of the ‘payment solution’ are mentioned below.
