Tamara Fintech gets a boost from Saudi SWF and SNB Capital

Saudi Arabia’s Tamara, a buy now, pay later digital service, has raised $340 million with backing from Saudi sovereign wealth fund Sanabil and SNB Capital. The funding round brings Tamara’s valuation to $1 billion, giving it “unicorn” status. CEO Abdulmajeed Alsukhan has indicated that the company could pursue an IPO in Saudi Arabia.