Saudi Tamara raised $150 million in debt financing from Goldman Sachs.

A fintech startup based in Saudi Arabia In the yearTamaraIn the year It raised $150 million in debt financing led by Goldman Sachs. With this funding, the total funding raised by Tamara in 2018 was After its launch in 2020, it will touch $366 million.

The company will use the funds to fund its Buy Now, Pay Later (BNPL) offerings and interest in new heights, it said in a statement. According to Tamara founder and CEO Abdulmejid Alsukan, the deal is the first of its kind in Saudi Arabia.

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In the year Since its launch in 2020, the company has six million customers across Saudi Arabia and other GCC countries such as Kuwait, Bahrain and the United Arab Emirates, the company said.

It also acts as a business facilitator for more than 15,000 partner merchants in both online and offline fields. It counts IKEA, H&M, Noon, Shein and Jarir among others as clients.

Tamara’s mission is to empower people in their everyday lives and transform how they shop, bank and pay.

According to the company, the region is still booming in terms of e-commerce offerings and low credit card offerings compared to the global market. He said that the population in Saudi Arabia is biased towards the youth, who comprise about 70% of the country’s population.