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Funding
Tamara secures up to USD 250 million in debt financing from Goldman Sachs and Shorooq Partners
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Nov 14, 2023
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Nov 14, 2023

Tamara secures up to USD 250 million in debt financing from Goldman Sachs and Shorooq Partners

Funding

  • Saudi Arabia-based Tamara has secured up to USD 250 million in debt financing from Goldman Sachs and Shorooq Partners. It comprises an incremental debt financing of USD 200 million of senior debt provided by Goldman Sachs (bringing its senior warehouse facility up to USD 350 million) and USD 50 million mezzanine tranche led by Shorooq Partners, which brings the total warehouse facility up to USD 400 million.

  • The company plans to utilize the funds to service its growing BNPL product demand and invest in developing new products and services.

  • Tamara currently has more than nine million users, with over 26,000 merchant partners of global and regional brands, such as SHEIN, Jarir, Noon, Ikea, H&M, and Farfetch. The company has over 500 employees and operates in Saudi Arabia, UAE, Egypt, Germany, and Vietnam.

  • Analyst QuickTake: Tamara’s funding announcement comes nearly four months after it secured a permit to operate its flexible payment services from the Saudi Central Bank, and eight months after the company secured USD 150 million in debt financing from Goldman Sachs.

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