Series C · Fintech
Tamara raises $340 million Series C to expand beyond instalment payments
Sanabil Investments and SNB Capital’s fintech fund co-led the round for shopping, payment and banking products.
Tamara announced a $340 million Series C equity financing on December 18, 2023. Sanabil Investments and SNB Capital, investing through its Close-Ended Fintech Fund, co-led the round, with participation from Shorooq, Pinnacle Capital and Impulse.
The Saudi company will develop products across shopping, payments and banking as it expands beyond buy now, pay later services across the GCC. At the announcement, it served more than 10 million users and worked with over 30,000 merchants in Saudi Arabia, the UAE and Kuwait.
Use of funds
Develop shopping, payment and banking products across the GCC
Funding history
Series C · This round$340M
Additional warehouse financing≤$250MWarehouse securitisation facility≤$150M