Saudi Arabia-based buy-now-pay-later startup Tamara secured a $150M debt facility from Goldman Sachs.

 

Saudi Arabia-based buy-now-pay-later startup Tamara secured a $150M debt facility from Goldman Sachs.  The firm intends to use the proceeds from the venture debt facility to expand its product portfolio.  To date, the firm has raised nearly $366M in equity and debt funding.  Notable existing backers of the firm include Saudi Arabia's sovereign wealth fund Sanabil, checkout.com, Impact46, and Coatue.  The funding defied the global venture funding pullback, with Tamara's CEO and co-founder Abdulmajeed Alsukhan saying, "The GCC, especially Saudi Arabia, continues to exhibit strong growth despite the global macroeconomic slowdown." Tamara was founded three years ago and already has 6 million customers.  IKEA and H&M are two of the notable brands that leverage Tamara's platform for payments.