7. Tamara

Date of Establishment: 2020
Headquarters: Saudi Arabia
Description: Buy-Now, Pay-Later platform
Founders: Abdulmajeed Alsukhan,Turki Bin Zarah, Abdulmohsen Albabtain

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 hidden fees. Today, it serves more than six million customers and 15,000 partner merchants, including IKEA, SHEIN, adidas, noon, and Jarir. Tamara claims to have witnessed over 4.5 times growth in its gross merchandise value in 2022 compared to 2021. In March 2023, it secured a debt facility of $150 million from Goldman Sachs, bringing its total funding in equity and debt to $366 million. Tamara’s investors include Sanabil, a subsidiary of Saudi’s Public Investment Fund, Checkout.com, Coatue, Shorooq Partners, and Endeavor Catalyst.