Almosafer, a consumer travel brand in Saudi Arabia, has partnered with Tabby, a shopping and financial services app in the Middle East and North Africa (MENA) region, to offer travelers buy now, pay later (BNPL) options.
With Tabby now available as a payment option on Almosafer, customers of the company’s consumer channels can split their travel expenses into four interest-free payments, the companies said in a Friday (Nov. 3) press release.
The payment option will give consumers greater financial control and purchasing power at a time when travel costs are rising, Tabby CEO and Co-founder Hosam Arab said in the release.
Pallav Singhvi, vice president of consumer travel at Almosafer, added that the partnership will enable more customers across Saudi Arabia, Kuwait and the United Arab Emirates to enjoy a hassle-free booking experience with convenient payment solutions.
“We are continuously striving to offer our customers exceptional value and enhance their experiences by expanding the range of essential services we provide,” Singhvi said in the release.
Tabby offers flexible payment options online and in stores, attracting tens of thousands of global brands and small businesses, according to the release.
Almosafer, part of the Seera Group, offers over 1.5 million hotel booking options worldwide, flight options with more than 450 airlines, car rentals and complete holiday packages, the release said. It also offers a range of booking options.
“With Tabby as a payment option, this process will become an even more seamless booking experience across Almosafer’s online channels, branches and call center,” the release said.
The announcement of this partnership comes two days after Riyadh-based Tabby raised $200 million in its Series D funding round, achieving a valuation of $1.5 billion and becoming the first FinTech unicorn in the region.
“Tabby set out with a purpose to reshape financial services — one that’s fair and responsible — and with this investment we can advance our mission across Saudi Arabia and the UAE,” the company said when announcing the funding round.
In May, Tabby closed an earlier funding round that resulted in upsizing its debt facility to $350 million at the time, enabling it to expand its BNPL service.