Hosam Arab: The Visionary Entrepreneur Behind Tabby and Careem
The Middle East has witnessed a remarkable transformation in the last two decades, with technology and entrepreneurship shaping the region’s economic future. At the heart of this transformation are innovators who took bold steps to build companies that changed how people live and work. One of these pioneers is Hosam Arab, a Saudi entrepreneur best known as a co-founder of Careem, the ride-hailing giant acquired by Uber, and later as the founder and CEO of Tabby, a leading “buy now, pay later” (BNPL) fintech platform in the region. His journey reflects resilience, vision, and the ability to identify opportunities in evolving markets.
Early Life and Education
Hosam Arab was born and raised in Saudi Arabia. Growing up during a time when the Middle East was still heavily dependent on traditional industries such as oil, finance, and construction, he developed an interest in new business models that could bring technological innovation to the region.
He pursued higher education abroad, attending some of the world’s top institutions. Arab earned his undergraduate degree in mechanical engineering from the University of Michigan and later went on to complete an MBA from Harvard Business School. His global education gave him exposure to entrepreneurial thinking, innovation, and business strategy that would prove invaluable later in his career.
After completing his studies, Hosam Arab worked in investment banking and consulting, where he gained firsthand experience in analyzing industries, evaluating companies, and building growth strategies. These roles provided him with both financial expertise and a deeper understanding of how businesses scale in competitive environments.
The Careem Journey
Hosam Arab’s name first became widely recognized when he co-founded Careem in 2012, alongside Mudassir Sheikha and Magnus Olsson. Careem began as a simple idea: to make transportation in the Middle East more reliable, accessible, and efficient. At that time, ride-hailing apps were still in their infancy globally, and the Middle East lacked a localized solution that catered to its unique challenges.
Building a Regional Giant
Arab played a central role in Careem’s growth. Unlike global companies such as Uber, Careem focused on solving regional problems:
- Cash payments instead of card-based transactions, since many customers didn’t use credit cards.
- Flexible options for drivers, many of whom worked part-time.
- Navigation systems adapted to cities with inconsistent address systems.
Careem quickly became more than just a ride-hailing company—it evolved into a super app offering delivery, mobility, and payment solutions. Arab’s leadership and strategic insights helped Careem expand across 14 countries and 100+ cities in the Middle East, North Africa, and South Asia.
The Historic Acquisition
In 2019, Uber acquired Careem for $3.1 billion, marking the largest tech exit in the Middle East. This deal not only validated the region’s startup ecosystem but also proved that Middle Eastern entrepreneurs could build global-scale companies.
Hosam Arab’s journey with Careem demonstrated his ability to spot untapped opportunities and transform them into billion-dollar businesses. But he wasn’t finished—his next venture would once again disrupt a key sector.
Founding Tabby: Redefining Payments in the Middle East
After his success with Careem, Hosam Arab turned his attention to financial technology. In 2019, he founded Tabby, a fintech company offering “buy now, pay later” (BNPL) services. Tabby allows customers to purchase products and split payments into installments without interest, making shopping more accessible and flexible.
Why BNPL?
The Middle East’s retail sector was booming, fueled by e-commerce growth and young, tech-savvy consumers. However, credit card penetration remained relatively low compared to Western markets. Traditional banks were slow to innovate, leaving a gap for alternative payment solutions.
Hosam Arab recognized that BNPL could address this gap by offering consumers greater flexibility and empowering merchants to increase sales. Tabby was launched to bridge this divide, and within a short period, it became one of the fastest-growing fintech companies in the region.
Rapid Growth and Expansion
Under Arab’s leadership, Tabby experienced explosive growth:
- Partnered with thousands of merchants, including global brands such as IKEA, Adidas, and H&M.
- Expanded into major Gulf markets, including UAE, Saudi Arabia, and Kuwait.
- Attracted millions of active users who embraced BNPL as a preferred payment method.
- Raised significant funding from top venture capital firms and international investors.
In 2023, Tabby reached unicorn status (valued at over $1 billion), becoming one of the first fintech unicorns in the Middle East. This achievement underscored Arab’s ability to repeat his earlier success with Careem by building another market leader from scratch.
Entrepreneurial Philosophy
Hosam Arab’s success is not accidental—it stems from his entrepreneurial philosophy and leadership style.
- Customer-Centric Approach: Both Careem and Tabby were designed around solving real customer problems—reliable rides in one case, flexible payments in another.
- Localization: Arab emphasizes tailoring solutions to the unique cultural, economic, and regulatory contexts of the Middle East, rather than importing foreign models.
- Resilience: Building startups in emerging markets is not easy. Arab has consistently shown resilience in navigating challenges such as regulation, funding, and competition.
- Team Building: He believes in surrounding himself with talented individuals who share the company’s vision and can execute it effectively.
Recognition and Influence
Hosam Arab has become one of the most influential entrepreneurs in the Middle East. His contributions are recognized globally:
- Forbes Middle East has repeatedly listed him among the region’s top entrepreneurs.
- He is frequently invited to speak at global forums on topics such as fintech, innovation, and the Middle Eastern startup ecosystem.
- Investors, analysts, and aspiring founders look to his journey as proof that the Middle East can produce world-class technology companies.
By creating two billion-dollar companies in less than a decade, Arab has set a new standard for entrepreneurship in the region.
Challenges and Future Outlook
Like any successful entrepreneur, Hosam Arab has faced challenges. At Careem, competition with Uber and navigating regulatory frameworks were constant hurdles. At Tabby, building trust in a relatively new payment model has required both education and innovation.
Looking forward, Arab has ambitious goals for Tabby:
- Expanding into new Middle Eastern and international markets.
- Diversifying services beyond BNPL into digital wallets, consumer credit, and merchant financing.
- Building a sustainable fintech ecosystem that empowers both consumers and businesses.
His long-term vision is to position Tabby not just as a BNPL platform but as a leading financial technology company for emerging markets.
Personal Traits and Leadership Style
Those who have worked with Hosam Arab describe him as strategic, humble, and visionary. He is known for:
- A hands-on leadership style, staying close to product development and customer needs.
- Balancing ambition with pragmatism, scaling businesses without losing sight of financial discipline.
- Encouraging innovation and empowering teams to experiment, fail, and learn quickly.
These traits have made him a respected leader not only within his companies but also across the wider startup ecosystem.
Legacy and Impact
Hosam Arab’s journey highlights how visionary leadership can transform industries. By co-founding Careem, he reshaped urban mobility in the Middle East. With Tabby, he is redefining how people shop and pay. Beyond the success of his companies, his impact lies in inspiring a new generation of entrepreneurs in the Arab world.
For young innovators, his story demonstrates that with the right idea, persistence, and execution, it is possible to build billion-dollar companies in the Middle East. His legacy will likely extend far beyond his current ventures, as he continues to shape the region’s digital economy.
Conclusion
Hosam Arab embodies the spirit of modern Middle Eastern entrepreneurship—visionary, resilient, and deeply connected to regional needs. From his early success with Careem to his groundbreaking work with Tabby, he has shown that the region can produce world-class startups capable of competing on the global stage.
His ability to identify gaps, innovate, and scale solutions has made him one of the most important business leaders of his generation. As fintech and digital services continue to grow, Hosam Arab’s journey is far from over. His story serves as both an inspiration and a blueprint for future entrepreneurs determined to make their mark on the world.
Published: 7th November 2025
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Also Read:
Magnus Olsson: The Entrepreneur Behind Careem’s Success
Mudassir Sheikha: The Visionary Entrepreneur Behind Careem
Ronaldo Mouchawar: Middle East E-Commerce Pioneer
