Saudi fintech Tamara raises $110 million in record Series A led by Checkout.com
Summary
Tamara declined to share the breakdown so it is difficult to speculate on the valuation but given the nature of its business, it wouldn’t be wrong to assume that a large part of the deal came in as debt. Launched in September 2020, Tamara enables online and offline merchants in Saudi Arabia and the United Arab Emirates to offer buy now pay later services to their customers. The startup founded by Abdulmajeed Alsukhan, Turki Bin Zarah, and Abdulmohsen Albabtain, claims to be the market leader in the buy now pay later space in Saudi. We are proud to have the trust of such an investor and we will continue expanding our products to transform the payments industry in the region,” added the CEO who had previously also co-founded the leading Saudi grocery marketplace Nana. Our investment in Tamara will help the team realize their vision and expand rapidly, driving greater conversions for retailers and offer more flexibility for consumers.”
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