Saudi Arabia’s BNPL platform Tamara raised $100 million in funds led by Sanabil Investments

Saudi Arabia’s buy now, pay later (BNPL) platform Tamara raised $100 million in funds led by Riyadh-based Sanabil Investments where other investors including Coatue, Shoorooq Partners, Checkout.ae and Endeavor Catalyst also participated.

Customers can divide their payments into four categories using the BNPL platform. Tamara plans to use the funds to launch new services and products, as well as expand into new markets, according to a statement. Tamara has already seen significant growth, with over 3 million customers and a 10x revenue increase.