Saudi Arabia’s leading “buy now, pay later” (BNPL) fintech unicorn, Tamara, has secured a groundbreaking $2.4 billion asset-backed facility, marking the largest such deal in the Middle East and North Africa (MENA) region to date. The facility was arranged in partnership with global investment bank Goldmans Sanch and regional institutions, reflecting strong investor confidence in the company’s business model and growth trajectory.
Founded in 2020, Tamara has quickly established itself as one of the most influential fintech players in the Gulf. Its BNPL platform allows consumers to split payments into installments, a service that has gained massive traction across Saudi Arabia and the wider GCC. The fresh financing underscores both the company’s rising importance in the region’s fintech ecosystem and the increasing appetite for alternative lending solutions.
The asset-backed structure of the deal will allow Tamara to expand its lending capacity while maintaining financial resilience. By leveraging consumer receivables, the company can better scale its operations without excessive reliance on equity fundraising. This move is particularly strategic given the rising demand for flexible payment solutions in e-commerce, travel, and retail.
Industry experts note that the transaction demonstrates Saudi Arabia’s growing prominence as a fintech hub, aligning with the Vision 2030 agenda to diversify the economy beyond oil. For Tamara, the deal is not only a financial milestone but also a statement of ambition as it seeks to cement its dominance in the MENA fintech landscape.
With this facility, Tamara is positioned to accelerate expansion, deepen merchant partnerships, and introduce new financial products, further reshaping digital payments in the region. The record-breaking transaction also signals a new wave of large-scale fintech financing deals in the Gulf, setting a precedent for future players.
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