EMEA Daily: Half a Million People Take Advantage of Mortgage Holiday in First Two Days of Initiative; Tabby Picks up $150M Loan From PFG and Atalaya

In today’s top news from Europe, the Middle East and Africa (EMEA), half a million Polish mortgage holders took advantage of a new government scheme to delay repayments in two days, and the online payments FinTech Tabby has collected $150 million in debt financing.

BNPL Provider Tabby Gets $150M Loan to Expand in MENA

Tabby, an online payments provider based in the United Arab Emirates, announced Tuesday (Aug. 2) that it has secured $150 million in debt financing from Atalaya Capital Management and existing investor Partners for Growth (PFG).

The deal marks Atalaya Capital Management’s first venture in the Middle East and North Africa (MENA) region and brings Tabby’s total capital raised to date amounts to $275 million. Tabby provides buy now, pay later (BNPL) solutions and other eCommerce services, and works with over 2,000 global brands including Adidas and Ikea.

Half a Million Poles Take Advantage of Mortgage Holiday in First Two Days of Initiative

More than 500,000 Polish mortgage holders have taken advantage of a new law allowing them to temporarily suspend mortgage repayments, according to Polish Prime Minister Mateusz Morawiecki.

Individuals who hold a a mortgage in zloty for their own housing needs have been able to suspend repayments for up to four months this year, as well as four months next year. Repayments can be suspended for a maximum of two months during a single quarter. Morawiecki said the program would cost the banking sector up to 20 billion zloty (€4.25 billion) over two years.

New Data: Mobile Shopping Still Underutilized by UK Consumers Despite Merchant Efforts

United Kingdom shoppers have yet to fully realize the potential of their smartphone, according to research from the “2022 Global Digital Shopping Playbook: UK Edition,” a collaboration with Cybersource,

As brick-and-mortar shoppers in the U.K. use smartphones 16% less than consumers in other countries to enhance their in-store shopping experiences. Nevertheless, those smartphones just might be the key to helping U.K. merchants win their business.

Cazoo ‘Laser-Focused on Profitability’ as Shares Surge Nearly 200% Post Upbeat Q2 Results

U.K.-based online car retailer Cazoo posted its H1 results Tuesday (Aug. 2), and its leadership team seems to have done a good job in convincing investors that the business is serious about cutting costs and aggressively pursuing profitability.

Cazoo’s senior leadership pointed to its impressive Q2 performance, which saw revenue jump by a record 145% year on year to £333 million. Within a few hours of the announcement, the company’s share price on the New York Stock Exchange skyrocketed nearly 200%.

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