Tamara, a Riyadh, Saudi Arabia-based shopping and payments platform, received a $150m debt facility.
The facility, which brought total funding to $366m since its launch in September 2020, was provided by Goldman Sachs.
The company intends to use the funds to develop its BNPL product and expand its business reach.
Founded by serial entrepreneur Abdulmajeed Alsukhan along with his partners Turki Bin Zarah and Abdulmohsen Al Babtain, Tamara is a shopping and payments platform working in Saudi Arabia and the GCC region with 6 million customers and more than 15,000 partner merchants including leading global and regional brands such as SHEIN, Jarir, Noon, IKEA, H&M as well as local small and medium businesses. The company has onboarded six million customers across the Middle East and plans to develop more offerings beyond its BNPL product. Tamara has over 350 employees in its headquarters in Riyadh, Saudi Arabia and has offices in the UAE, Egypt, Germany and Vietnam.
Other Investors included Sanabil Investments, a wholly owned company by the Public Investment Fund (PIF), Checkout.com, Coatue, Shorooq Partners, Endeavor Catalyst and Goldman Sachs.
FinSMEs
21/03/2023