Tamara Secures New Asset-Backed Facility of Up to $2.4 Billion

Saudi fintech Tamara has secured a new asset-backed financing facility of up to $2.4 billion from Goldman Sachs, Citi, and Apollo, providing the capital to fuel the expansion of its buy-now-pay-later and consumer credit products.

The Sharia-compliant facility is one of the largest fintech financing deals in the Middle East, reflecting the scale of Tamara's lending operations and the confidence of global institutional investors in its business model. The funding provides Tamara with the capital to originate consumer financing at scale while maintaining the balance sheet capacity needed for continued growth.

The involvement of Goldman Sachs, Citi, and Apollo signals institutional-grade confidence in Tamara's credit performance and operational capabilities. Asset-backed facilities require rigorous due diligence on loan portfolio quality, collection rates, and risk management practices, and the participation of three major global financial institutions validates Tamara's underwriting standards.

Tamara, valued at $3.3 billion following its Series E funding round, has built a merchant network spanning tens of thousands of retailers across Saudi Arabia and the UAE. The company has been expanding beyond its core BNPL offering into broader consumer finance products, enabled by the consumer finance licence it received from SAMA.

The $2.4 billion facility provides the funding runway for Tamara's continued expansion as it prepares for a potential initial public offering. The company has signalled IPO ambitions, and securing large-scale institutional financing strengthens its financial profile ahead of any listing.