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Subscriber Only Leads $110 Million Round for Saudi Fintech Tamara

  • Deal is one of the Mideast’s largest startup investments ever
  • Payments business is among biggest fintech firms
relates to Leads $110 Million Round for Saudi Fintech Tamara

Source: Tamara is leading a $110 million funding round for Saudi payments firm Tamara in one of the Middle East’s largest-ever startup investments as demand booms for e-commerce and fintech solutions.

Proceeds of the Series A capital raise, which includes both equity and debt, will be used to bankroll Tamara’s expansion across the Gulf markets by the end of this year and then the rest of the Middle East, according to a statement Thursday. The company raised $6 million in seed funding at the start of this year and is predominantly active in Saudi Arabia and the neighboring United Arab Emirates.