Tamara’s BNPL FinTech secures $340m in Series C at $1bn!

Tamara, a Saudi Arabia-based FinTech platform, has raised $340 million in a Series C funding round, valuing the company at $1 billion. The funding round was co-led by SNB Capital and Sanabil Investments, with participation from other investors including Shorooq Partners and Pinnacle Capital. The company aims to become a major player in the shopping, payments, and banking sectors. Tamara offers buy now, pay later (BNPL) services and has recently removed late payment fees. The company’s decision to remove fees aligns with its commitment to offering financial solutions that adhere to Sharia principles. Tamara plans to use the funding to continue growing and innovating in the Saudi fintech sector.