Tamara, Saudi Arabia’s Shopping and BNPL Platform, Achieves $1B Valuation in $340M Series C Funding Round

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Tamara, a buy now pay later platform for consumers in Saudi Arabia and the wider GCC region, has raised $340 million in a financing C round that values the fintech at $1 billion. Both startups, albeit competitors, highlight the surging growth in BNPL usage, particularly in Saudi Arabia, the market that makes up more than 80% of Tamara and Tabby’s customer base. “Saudi Arabia and the GCC deserves its place on the world stage for financial technology. Before launching Tamara, Alsukhan co-founded Nana, a digital grocery shopping platform where he was the chief financial officer for three years. Tamara is also allocating part of the investment to introduce new products and services beyond BNPL and capitalizing on opportunities in shopping and financial services across Saudi Arabia and the GCC.