In an exciting development within the financial technology sector, GCC-based buy now pay later (BNPL) operator Tabby has announced its intention to acquire Saudi digital wallet provider Tweeq. The announcement was made during the 24 Fintech event in the Kingdom. While Tweeq will continue to operate independently, Tabby plans to integrate its financial products suite, potentially including digital spending accounts, cards, and money management tools. Founded in 2020, Tweeq is licensed by the Saudi Central Bank (SAMA) and provides a comprehensive digital wallet service for managing, sending, and spending money. The acquisition is pending regulatory approval and is aimed at expanding Tabby’s ecosystem and consumer reach. The CEO of Tweeq, Saeed Albuhairi, expressed enthusiasm for the merger, highlighting its potential to cater to millions of financial users across the GCC with innovative financial solutions.
Financial Technology, Banking, Payments,GCC, Saudi Arabia, UAE
https://www.zawya.com/business/fintech/bnpl-app-tabby-to-acquire-saudi-digital-wallet-tweeq-jkej2usw