Tamara raises $100mln in Series B equity round

Tamara raises $100mln in Series B equity round

- Latest round also includes participation from Coatue, Shorooq Partners, Endeavor Catalyst and follow-on investment by Series A lead Checkout.com

- Tamara’s 4,000+ partner merchants include leading global and regional brands like IKEA, SHEIN, Adidas, Namshi and Jarir plus local SMEs

- Tamara will use the funding to strengthen the customer and partner merchant experience and to further innovate product portfolio across payments and shopping

Riyadh, Saudi Arabia: Saudi fintech startup Tamara, the leading payments startup focused on driving financial inclusion across the Middle East, has raised a $100m Series B equity round led by Sanabil Investments, with participation from Coatue, Shorooq Partners, Endeavor Catalyst and a follow-on investment by global fintech Checkout.com.

The company – which has seen exceptional adoption with more than 3 million customers, a 10x year-on-year revenue growth and over 4,000 partner merchants including leading global and regional brands like IKEA, SHEIN, Adidas, Namshi and Jarir plus local SMEs – will use the funding to expand its product offering across payments and shopping in addition to launching in new markets.

Abdulmajeed Alsukhan, Tamara’s Co-founder and CEO, said: “Our mission is to deliver an exceptional experience to our customers by offering transparent, seamless and inclusive payment solutions. Tamara has established itself as