Saudi Arabian buy-now, pay-later (BNPL) giant Tamara is reportedly in discussions to raise a substantial debt facility of at least $1.4 billion. The financing is expected to involve a consortium of global financial institutions, including Goldman Sachs, Citigroup, and Apollo Global Management, positioning the company for its next phase of expansion.
A Landmark Financing Deal
The proposed transaction is an asset-backed financing deal, which sources familiar with the matter suggest could become one of the largest of its kind in the Middle East. The funds are intended to refinance and significantly expand a previous debt facility. Reports indicate that the total funding for this deal could potentially rise to as high as $2.4 billion, signaling strong confidence from lenders in Tamara’s business model and growth trajectory.
Building On Previous Growth
This major financing effort follows a previous successful debt round for the fintech unicorn. In March 2023, Tamara secured a $150 million funding facility from Goldman Sachs, which was aimed at fueling its regional growth plans. The new, larger facility demonstrates the scale of Tamara’s operations and its continuous need for capital to support its expanding customer and merchant base.
Context of Saudi’s Rebounding Startup Scene
Tamara’s significant fundraising plans coincide with a strong rebound in Saudi Arabia’s venture capital landscape. According to data from Magnitt, venture capital funding in the Kingdom more than doubled year-over-year to reach $860 million (SAR 3.2 billion) in the first half of 2025. This surge follows a sharp decline in 2024, indicating renewed investor confidence and a robust environment for high-growth startups like Tamara.
About Tamara
Tamara is a leading buy-now, pay-later (BNPL) platform headquartered in Riyadh, Saudi Arabia. It offers flexible payment solutions for shoppers, allowing them to split their payments for online and in-store purchases without any hidden fees or interest. The company serves a wide range of merchants and customers across Saudi Arabia and the broader MENA region.
Source: AGBI
