Tamara Becomes Saudi Arabia's First Fintech Unicorn With $340M Series C
Saudi BNPL platform Tamara has raised a $340 million Series C at a valuation of over $1 billion, becoming the Kingdom's first homegrown fintech unicorn. The round was co-led by SNB Capital and PIF's Sanabil Investments. Tamara serves more than 10 million users across Saudi
Tamara operates a shopping, buy-now-pay-later and banking platform and was among the first companies licensed to offer BNPL services by the Saudi Central Bank. The $340 million Series C equity round was co-led by SNB Capital and Sanabil Investments, with Shorooq Partners, Pinnacle Capital and Impulse, and existing investors Coatue, Endeavor Catalyst and Checkout.com.
The round valued the company at over $1 billion, making it Saudi Arabia's first homegrown fintech unicorn. Tamara reports more than 10 million users and over 30,000 partner merchants across Saudi Arabia, the UAE and Kuwait.