Saudi Arabia: Tamara, the Saudi Arabia-based Buy Now, Pay Later startup has announced the closing of a $6M (SAR 22.5M) Seed funding round, led by Impact46. The round also included participation from leading local and regional investors: Vision Ventures, Wealth Well, Seedra, Khwarizmi, Hala, and Nama, in addition to multiple family offices.
Tamara is a Fintech platform that aims to enable e-stores and retail companies to exchange cash on delivery, to help them overcome the challenges they face. Since joining SAMA’s Fintech Sandbox, Tamara has been rapidly growing and operating officially in the Kingdom.
Abdulmajeed Alsukhan, Co-founder and CEO commented, “We enable merchants to grow their sales and entice their customers with our Buy-Now-Pay-Later and installment services that do not include any fees the customer has to pay. We strongly believe Tamara will be a game-changer for both merchants and customers. It will positively re-shape the purchasing power in the market.”
The new funding round aims to back Tamara’s growth and operations in Saudi Arabia and the United Arab Emirates.