- Fintech company Tamara secured a significant $2.38 billion in Shari'ah-compliant asset-backed financing from major financial institutions, including Goldman Sachs, Citibank, and Apollo.
- This deal, announced at the Money 20/20 conference in Saudi Arabia, marks the largest financing of its kind for a fintech company in the region. The funds will be used to support Tamara's continued growth, expand its services to more than its current 20 million customers, and increase its lending power.
- As Saudi Arabia's first homegrown fintech unicorn, Tamara provides flexible payment solutions, enabling customers to split payments over time at a wide range of merchants. The financing also aligns with Saudi Arabia's Vision 2030, which aims to support the growth of the private sector.
Riyadh, KSA, 15 September 2025: Tamara, the leading fintech platform and first homegrown Saudi fintech unicorn, has secured the largest asset-backed financing in the region issued by a fintech company. This transaction fully refinances and upsizes a prior USD 500 million asset-backed financing transaction arranged by Goldman Sachs. The Shari’ah-compliant financing was secured from leading financial institutions - Goldman Sachs, Citibank and Apollo - with an initial commitment of USD 1.4 billion that can be scaled to USD 2.38 billion to support the firm’s continued growth over a period of 3 years. The deal was announced with senior leadership from Tamara and the respective financial institutions at the inaugural Money 20/20 Middle East in Saudi Arabia.
The multi-billion dollar transaction is set to support Tamara’s continued growth across its regional markets, which is being driven by robust demand for its main consumer financing products. Moreover, as a Shari’ah-compliant financing, the deal reflects regional commitment by Tamara and the associated financing partners to localised investment practices and their sustainable growth.
Commenting on the asset-backed financing deal, Abdulmajeed Alsukhan, Co-Founder and CEO of Tamara, said “This landmark facility with our global financing partners accelerates our growth trajectory and strengthens our capital foundation, empowering us to invest further in building the most customer-centric fintech platform on earth. Today’s milestone brings us one step closer to helping people make their dreams come true.”
The asset-backed financing will increase Tamara’s lending power and help the platform grow well beyond its current 20 million customers while aligning with the success pillars of KSA’s Vision 2030 and the nation’s Financial Sector Development Program (FSDP) of enabling financial institutions to support private sector growth. Moreover, it is also set to promote the program’s objective of advancing capital markets by attracting more support from local and global financial institutions and validating KSA as a hub for inward investment.
Overall, the transaction builds on the capabilities of Tamara as the Kingdom’s first homegrown fintech unicorn since raising $340 million in its Series C funding round in December 2023. In the Saudi market, Tamara has grown its user base to over 20 million, enabling transactions at more than 87,000 merchants, with plans for further regional expansion.
Tamara is one of GCC’s leading digital consumer financing platforms, offering flexible payment solutions through a vast network of merchants across e-commerce, airlines, healthcare, insurance, education, fashion, lifestyle, electronics and more. It enables customers to split payments over time, giving them greater financial control and access to essential goods and services.
About Tamara
Tamara is the leading fintech platform in Saudi Arabia and the wider GCC region, with a mission to help people make their dreams come true by building the most customer-centric financial super-app on earth. The company serves more than 20 million users in the region and partners with leading global and regional brands such as Apple, SHEIN, Jarir, noon, IKEA, and Amazon, as well as small and medium businesses.
Tamara is Saudi Arabia’s first fintech unicorn and is backed by Sanabil Investments, a wholly owned company by the Public Investment Fund (PIF), SNB Capital, Checkout.com, amongst others. The company operates from its headquarters in Riyadh, with additional regional and global support offices.
For more information, please contact:
Fadwa Alhargan (Fadwa.alhargan@Tamara.com)