Tamara, a Saudi Arabia-based fintech firm offering buy now pay later services, has secured an asset-backed facility of up to US$2.4 billion from Goldman Sachs, Citi, and Apollo funds.

The agreement refinances and expands a previous US$500 million facility, with US$1.4 billion available immediately and an additional US$1 billion accessible over three years.

The company said the new funding will be used to develop credit products and support regional growth.

Tamara raised US$340 million in a series C round in late 2023, reaching a valuation above US$1 billion.

Founded in 2020, Tamara reports serving more than 20 million customers and working with over 87,000 merchants.

🔗 Source: Tamara