One of the pioneering Saudi fintech companies, Tamara, recently secured an asset-backed facility worth up to USD 2.4 billion from significant financial institutions like Goldman Sachs, Citi, and Apollo funds.
This new transaction is intended to refinance and scale a previously arranged USD 500 million asset-backed facility by Goldman Sachs.
Tamara Announces New Funding During Money 20/20 Middle East
The deal was disclosed during the Money 20/20 Middle East conference. The arrangement includes an initial allocation of USD 1.4 billion with another USD 1 billion available over a period of three years, subject to future approvals.
The capital received will facilitate Tamara’s product diversification efforts, which include introducing new credit and payment services. This funding also underscores both parties’ dedication to sustainable growth strategies in the region.
The facility is expected to boost Tamara’s lending capabilities and platform expansion. Moreover, it aligns with Vision 2030 objectives and the Financial Sector Development Program (FSDP), aiming to support domestic financial institutions in promoting private sector development and enhancing capital markets through greater involvement of local and international financial entities.
Tamara’s Role as a Homegrown Fintech Unicorn
Tamara remains one of Saudi Arabia’s first fintech unicorns, having raised USD 340 million in its Series C funding round last December. This round was co-led by SNB Capital and Sanabil Investments, alongside existing investors such as Checkout.com, Endeavor Catalyst, and Coatue.
Collaboration with Shahbandr
In August 2025, Tamara partnered with Shahbandr to offer flexible payment options, particularly Buy Now, Pay Later (BNPL), solutions for online stores. This collaboration enabled all online retailers on the Shahbandr platform to benefit from Tamara’s BNPL service, enhancing customer experiences and improving conversion rates. Shahbandr also collected its fees directly from Tamara, streamlining operations and optimizing revenue cycles.
