3. Tamara

Total funding: $216 million
Buy now, pay later platform
Founders: Abdulmajeed Alsukhan, Turki Bin Zarah, Abdulmohsen Albabtain
Nationality: Saudi
Investors: Sanabil Investments, Checkout.com, Coatue, Shorooq Partners, Endeavor Catalyst
Headquarters: Saudi Arabia
Date of establishment: 2020

Tamara allows online and in-store shoppers in Saudi Arabia, the U.A.E., and Kuwait to split their payments across three installments with no fees. Today, it has over four million customers and more than 4,000 partner merchants, including IKEA, SHEIN, adidas, Namshi, and Jarir. It processed transactions of around $275 million in 2021. In August 2022, Tamara raised $100 million in a Series B round. It employs over 270 people across its offices in Saudi Arabia, the U.A.E., Germany, and Vietnam and expects to reach profitability between 2023 and 2024, with a potential IPO in the future.