Money20/20 Middle East isn’t just another expo – it’s the region’s most powerful fintech marketplace. The second day of the Money20/20Middle East conference brought more meetings, ideas and collaborations at the Saudi FinTech Pavilion. During the conference fintech company Tamara has announced a $2.4 billion deal.
- Fintech company Tamara has secured a significant Shari’ah-compliant asset-backed facility of up to $2.4 billion from major financial institutions, including Goldman Sachs, Citi, and Apollo funds.
- This deal, announced at the Money 20/20 conference, marks one of the largest of its kind in the region. It is aimed at helping Tamara expand its credit and payment products to meet customer needs.
- As Saudi Arabia’s first homegrown fintech unicorn, Tamara provides flexible payment and credit solutions, allowing customers to split payments over time with a wide range of merchants.
Riyadh, KSA, 15 September 2025: Tamara, the first homegrown Saudi fintech unicorn, has secured the largest asset-backed facility of its kind in the region of up to $2.4 billion from major financial institutions, including Goldman Sachs, Citi and Apollo funds. This transaction fully refinances and upsizes a prior USD 500 million asset-backed facility arranged by Goldman Sachs.
The deal, which was announced during Money 20/20 Middle East conference in Saudi Arabia, includes an initial $1.4 billion with an additional $1 billion available for a three-year period, pending further approvals. The funding is aimed at supporting Tamara’s vision to expand into new credit and payment products.
“This landmark facility with our global financing partners accelerates our growth trajectory, empowering us to invest further in building the most customer-centric financial super-app on earth,” said Abdulmajeed Alsukhan, Co-Founder and CEO of Tamara. “Today’s milestone brings us one step closer to helping people own their dreams.”
The new capital is aimed at supporting the company’s product diversification, including new credit and payment offerings. The facility also reflects a strategic commitment by Tamara and its financing partners to localised investment practices, aiming for sustainable growth within the regional ecosystem.
The asset-backed facility will increase Tamara’s lending power and help the platform grow well beyond its current 20 million customers while aligning with the success pillars of KSA’s Vision 2030 and the nation’s Financial Sector Development Program (FSDP) of enabling financial institutions to support private sector growth. Moreover, it is also set to promote the program’s objective of advancing capital markets by attracting more support from local and global financial institutions and validating KSA as a hub for inward investment.
Overall, the transaction builds on the capabilities of Tamara as the Kingdom’s first homegrown fintech unicorn since raising $340 million in its Series C funding round in December 2023. Tamara has grown its customer base to over 20 million, enabling transactions at more than 87,000 merchants, with plans for further regional expansion.
About Tamara
Tamara is the leading fintech platform in Saudi Arabia and the wider GCC region, with a mission to help people own their dreams by building the most customer-centric financial super-app on earth. The company serves more than 20 million customers in the region and partners with leading global and regional brands such as Apple, SHEIN, Jarir, noon, IKEA, and Amazon, as well as small and medium businesses.
Tamara is Saudi Arabia’s first fintech unicorn and is backed by Sanabil Investments, a wholly owned company by the Public Investment Fund (PIF), SNB Capital, amongst others. The company operates from its headquarters in Riyadh, with additional regional and global support offices.