3 years ago

Tamara's $116 Million Raise Highlights the Growth of BNPL in Saudi Arabia

  • Tamara, a Saudi-based buy now pay later (BNPL) platform, has raised over $116 million in its first year, including a $110 million Series A funding round led by Checkout.com

  • The company has seen rapid growth, attracting two million customers and 2,000 merchants across Saudi Arabia, the UAE, and Kuwait

  • Tamara's success is attributed to the increasing demand for BNPL services, particularly in the Middle East, where the market is expected to grow significantly in the coming years

  • The company is focused on expanding its operations across the GCC and beyond, with plans to partner with large global merchants.

      • ProblemFinancial Services

      "Traditional payment methods don't work well for many people in the GCC. Small businesses rely on informal 'buy now, pay later' systems, and customers lack flexible, accessible credit options."

      Solution

      "Tamara is a buy now, pay later platform that allows customers to split purchases into interest-free installments while giving merchants a way to increase sales and reach new customers. They use technology to bring the traditional ledger system into the digital age."

      Covered on