Saudi’s Tamara raises $150 million in debt financing from Goldman Sachs

March 17, 2023

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Saudi’s Tamara raises $150 million in debt financing from Goldman Sachs. With this funding, Tamara aims to finance the demand for its flagship BNPL product and continue its growth across new verticals.

Tamara works as a commerce enabler for over 15,000 online and offline partner merchants. Clients include IKEA, H&M, Noon, Shein, and Jarir, among others. Tamara’s mission is to empower people and revolutionise how they shop, bank, and pay in their daily lives. According to the company, the region is still developing, with cash on delivery being common in ecommerce and credit card penetration being low in comparison to global markets. According to the report, Saudi Arabia’s population is skewed towards youth, who account for nearly 70% of the country’s population.

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