King & Spalding advised STV to complete its Series C investment in Tabby, the leading buy now, pay later (BNPL) platform in the Middle East. The round was co-led by STV and Sequoia Capital India and raised $58,000,000. Other investors in the round included Mubadala, Paypal Ventures, Arbor Ventures and Endeavor Catalyst.
Previously, STV co-led the Series B round with Global Founders Capital in 2021 and co-led the Series B extension round with Sequoia in 2022. Other earlier investors in Tabby include leading regional and international VC investors and sovereign entities (including several King & Spalding clients), such as Rocket Internet, Delivery Hero, Global Ventures, MSA, AbdulLatif Jameel (JIMCO) and HOF Capital.
More information on this transaction can be found here and here.
The King & Spalding deal team included James Stull and Saud Aldawsari.