Dec 8, 2020

tabby a UAE ‘By Now, Pay Later’ fintech raises US$23mn

tabby
Fintech
funding
Georgia Wilson
2 min
tabby payment solution on a mobile phone
UAE fintech company - tabby - raises US$23mn in one of the largest Series A funding rounds in the Middle East...

In an announcement made by tabby - a leading UAE ‘By Now, Pay Later’ fintech - the company has raised US$23mn in its Series A funding round in debt and equity by Arbor Ventures and Mubadala Capital. Participants included STV, Raed Ventures, Global Founders Capital, JIMCO, Global Ventures, Venture Souq, Outliers VC, MSA Capital, HOF and Arab Bank.

The funding will drive the company’s next stage of growth, scaling its product and engineering capabilities as well as its lending capacity to further benefit merchants and consumers.

Founded in 2019, tabby partners with retailers to offer online or in-store customers the ability to defer paying for purchases for up to 30 days or to pay in 4 equal monthly installments at zero cost to the consumer. Its series A funding round has further built on the fintech's growing roster of large-scale retailers and market momentum.

"Buy-now-pay-later solutions are booming globally thanks to accelerated payments digitisation and e-commerce penetration, and the Middle East is no exception. tabby’s solution fits squarely within our thesis that fintech solutions will drive better experiences for merchants and consumers. We are excited to partner with Hosam and his team as they build tabby into a regional fintech leader,” added Ibrahim Ajami, Head of Ventures at Mubadala.

“The shift to online retail has never been more evident, and with it, consumers are becoming ever more demanding as they actively seek convenience and reliability in their shopping experience. And this includes how they pay for their purchases. We’re very proud of the value we’ve been able to bring our retail partners by providing their customers with an exceptionally convenient and flexible way to pay,” commented Hosam Arab, co-Founder and CEO of tabby.

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Jun 16, 2021

NetNumber: Time for a cloud-native transformation

Virgin Mobile MEA
Netnumber
3 min
Matt Rosenberg, Chief Revenue Officer at NetNumber, discusses how cloud-native architecture is accelerating the transition to 5G for telcos

NetNumber is accelerating the transition in the telecom industry to 5G as it starts a shift to cloud-native architecture to address the fast-paced demands of global subscribers and businesses.

NetNumber is offering the industry’s first cloud-native platform designed to ensure InterGENerational™ network performance addresses both the legacy and next-generation requirements of telecom networks. 

“NetNumber has developed the industry’s most robust cloud-native, InterGENerational platform that addresses both the legacy and 5G requirements of telcos,” said Matt Rosenberg, Chief Revenue Officer of NetNumber.

The platform provides vertical and horizontal scale-out with low latency, coupled with a suite of data replication capabilities, which provide flexible architectural options that can evolve with the changing network over time.

“Cloud-based solutions from other vendors tend to be limited in terms of supporting particular network generations or protocols. We’ve created our latest platform TITAN.IUM to allow customers to take any generation of applications, any generation of legacy services and protocols and move them into the new world of cloud-native architecture,” said Rosenberg.

“This is a really important part for a carrier to harmonise their network, bring data services together, bring legacy with new together in order to make a more effective and efficient network, as well as reduce their cost as they scale forward,” he said.

Established in 1999, NetNumber has fostered a strong team environment that leverages the industry’s best skills to offer software solutions tailored for carriers of all dimensions. Based outside of Boston and with presence in over 20 countries, the company delivers a range of products that address all generations (2G, 3G, 4G, 5G) of network functions in the core network, deep rooted security products and services, STIR/ SHAKEN and set of options around data services in more than 90 countries.

Steeped in experience in building telecom solutions, software, protocol stacks, and integration of third party tools, the company’s development organisation has proven to supply to the industry with the most reliable and flexible solutions on the market.

“At NetNumber, we focus on our core competencies – we are dedicated to providing industry expertise in signaling, routing, security, subscriber management and data services. We provide customers a strong ROI through platform-based solutions that reduce Capex and Opex in the long-term,” commented Rosenberg.

Five reasons why customers choose NetNumber:

  • Expertise -  NetNumber has experts with deep knowledge in signaling/routing, security, and subscriber database management.
  • Integration - An industry-first platform brings together domain services, applications, security, and global data services.
  • Scale - NetNumber has the ability to seamlessly increase network efficiency using vertical and horizontal scaling.
  • Speed - World-class solutions have the power to help companies create new service offerings and accelerate time to ROI.
  • Savings - Customers enjoy significant savings in capex and opex, flexible deployment models, and investment protection.

 

NetNumber and Virgin Mobile MEA

“We're very proud of our partnership with Virgin Mobile MEA as they've taken the concept of the InterGENerational platform into their regional network strategy,” commented Rosenberg. “That’s accelerated how they develop exceptional services across the Middle East and Africa region. 

“We work with them hand-in-hand to deliver multiple applications onto our platform which has enabled them to provide exceptional, advanced and innovative services to their customers across the Middle East, who demand high quality services. 

“What they've really taken advantage of is scale. What I mean by that is they are putting multiple generations of applications and services onto the same platform and distributing that data across their network. That has resulted in an advantageous position of time to market and operational savings. 

“Rather than having different applications for many different vendors that cause operational chaos, they've been able to consolidate that and reduce their operating costs by having everything on one common architecture.  We’ve had a long-term relationship with Virgin Mobile in Saudi Arabia, and recently signed an agreement with Virgin Mobile in Kuwait.”

Rosenberg says that with these solutions, Virgin Mobile MEA can take advantage of getting to the market much quicker and faster—which is what today’s discerning customer demands.

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