Tamara Secures $2.4B Asset-Backed Facility Backed by Goldman Sachs
Saudi Arabia’s first fintech unicorn has secured a landmark deal backed by Goldman Sachs, Citi, and Apollo to fuel expansion and diversify products.
Saudi Arabia’s first homegrown fintech unicorn, Tamara, has secured an asset-backed facility of up to $2.4 billion, marking the largest deal of its kind in the region. Announced at the Money 20/20 Middle East conference in Saudi Arabia and backed by Goldman Sachs, Citi, and Apollo funds, it comes following previous $500 million facility arranged by Goldman Sachs.
The agreement includes an initial $1.4 billion, with a further $1 billion available over three years pending approvals. The funding will support the company’s expansion into new credit and payment products, with the aim of accelerating growth and strengthening its position as a customer-focused financial super-app.
The facility is expected to increase Tamara’s lending capacity beyond its current base of 20 million customers and enable continued growth across regional markets. The company currently facilitates transactions with more than 87,000 merchants.
