Tabby Capital Fund I

Tabby Capital Fund I

Tabby Capital Fund I is a private credit fund that originates and holds short-duration consumer and SME receivables from Tabby's BNPL transaction flow. The fund provides professional investors with exposure to a high-turnover credit book underwritten on granular, real-time consumer data.

Tabby is the largest and most-valued BNPL platform in the MENA region, serving more than 20 million shoppers and over 40,000 merchants. The platform originates a large volume of short-duration receivables daily; the fund gives qualified investors access to a curated share of this flow on a funded basis.

As the regulated Management Company, NWM structures and manages the fund, coordinates the fund's administrator and custodian, oversees compliance and investor onboarding, and runs the ongoing regulatory interface with the FSRA. The fund is structured as a CEIC (Closed-Ended Investment Company) to match the illiquid, term-matched nature of the underlying credit book.