Tabby, a leading shopping and financial services app, has raised $58 million in Series C funding, according to an emailed press release to Arab Finance on January 18th.

The funding round was led by Sequoia Capital India, STV, PayPal Ventures, Mubadala Investment Capital, Arbor Ventures, and Endeavor Catalyst.

By securing the Series C round, the company’s valuation stands at $660 million.

The secured amount will be used to expand Tabby’s product line and back its operations.

“This round makes Tabby one of the most valuable startups in MENA and the first in the GCC to receive funding from PayPal Ventures,” the release noted.

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