- Tamara, a Saudi fintech platform, secures $340 million in a Series C funding round.
- The funding round, co-led by Sanabil Investments and SNB Capital, resulted in Tamara becoming Saudi Arabia’s first fintech unicorn with a $1 billion valuation.
- New investors like Shorooq Partners, Pinnacle Capital, and Impulse join existing backers including Coatue, Endeavor Catalyst, and Checkout.com.
- Founded in 2020, Tamara operates in Saudi Arabia, UAE, and Kuwait, boasting 10 million users and 30,000 partner merchants.
- The Series C funding brings Tamara’s total equity raised to $500 million, following a recent upsizing of its debt facility to $400 million.
- Tamara plans to use the funds for product development and expansion beyond BNPL, targeting shopping, payments, and banking services in the Gulf Cooperation Council (GCC) region.
