Saudi Fintech Tameed Hits $15M Jackpot in Series A Round

Tameed, a shariah-compliant digital lending platform in Saudi Arabia, has raised $15 million in a Series A funding round. The round was led by Alromaih Investments and will be used to accelerate Tameed’s growth and meet the increasing demand for its digital lending products. Tameed offers government purchase order financing for small and medium-sized enterprises (SMEs) and has facilitated funding of over SAR 400 million for SMEs since obtaining its operating license from the Saudi Central Bank in January 2023. The company has achieved a growth rate of over 400% and has 50,000 downloads of its mobile app. Tameed’s success can be attributed to its transparent pricing, fast loan processing, and fully digitalized process.