# Tamara

> Source: https://docs.barcoder.ai/docs/wallets/tamara
> research date 2026-05-29 · extracted at 2026-10-03
> Publisher: Barcoder — encyclopedia of QR, barcode and payment-code standards

Specifications:
- [Tamara — official](https://tamara.co/)

## Overview

**Tamara** is **Saudi Arabia's largest BNPL + shopping platform**, with **20+ million customers** across **Saudi Arabia, UAE, Bahrain, Kuwait** <sup>[1][1], [2][2], [Saudi Arabia report](https://docs.barcoder.ai/docs/payments/SA)</sup>. By **2025**, Tamara enabled transactions at **87,000+ merchants** (SHEIN, IKEA, Farfetch, Jarial, Noon + hundreds more). **September 2025 — Tamara secured $2.4 billion facility** (Goldman Sachs + Citi + Apollo funds; **$1.4B initial + $1B optional 3-year**) — largest asset-backed facility of its kind in MENA region. **2025 MENA BNPL penetration at 35-40% of KSA e-commerce checkouts** — rivals cash-on-delivery. Tamara is **SAMA-licensed** for consumer finance + BNPL services.

## History

**2020 — Tamara founded** by **Abdulmajeed Alsukhan + Turki Bin Zarah + Abdulmohsen Albabtain** as Saudi Pay-in-3 BNPL.

**2021-2023 — Mass Saudi adoption + UAE/Bahrain/Kuwait expansion** <sup>[1][1]</sup>.

**December 2023 — Series C $340M at $1B+ unicorn valuation** [[wiki-tamara]].

**2024 — SAMA consumer-finance + BNPL license** <sup>[3][3]</sup>: Formal Saudi regulatory framework.

**September 2025 — $2.4 billion asset-backed facility** (Goldman Sachs + Citi + Apollo) <sup>[1][1]</sup>: Largest of its kind in MENA.

**2025 — 20M+ customers + 87K+ merchants** <sup>[2][2]</sup>.

**2025 — KSA e-commerce BNPL penetration 35-40%** <sup>[4][4]</sup>: Rivals cash-on-delivery.

## Ownership & operator

**Operating entity**: **Tamara** (Saudi-headquartered).

**Co-founders**: **Abdulmajeed Alsukhan (CEO) + Turki Bin Zarah + Abdulmohsen Albabtain**.

**Major investors**: **Sanabil Investments (Saudi PIF), Shorooq Partners, Coatue, Endeavor Catalyst** + Series C $340M (Dec 2023).

**Major credit facility**: **$2.4 billion** (Sep 2025; Goldman Sachs + Citi + Apollo).

**Regulators**: **SAMA** (Saudi Arabia consumer-finance + BNPL license) + per-country.

## Technical integration

| Layer | Description |
|---|---|
| **Channels** | Tamara mobile app (iOS + Android) + merchant-checkout integration |
| **Identifiers** | Phone + email |
| **Core products** | **Pay in 3** (3 interest-free installments) + **Pay in 24 months** (interest-bearing installment financing, post-SAMA license) |
| **Merchant integration** | Tamara checkout button at 87K+ retailers |
| **Repeat purchase rate**: 12 times per year for fashion BNPL users (2025) |

## Users & growth

**2025** <sup>[1][1], [2][2]</sup>:
- **Customers**: 20+ million (largest BNPL provider in Saudi Arabia)
- **Merchants**: 87,000+ (SHEIN, IKEA, Farfetch, Jarial, Noon, +hundreds)
- **MENA BNPL penetration in KSA e-commerce checkout**: 35-40% (rivals cash-on-delivery)
- **Repeat purchase rate (fashion BNPL users 2025)**: 12 times per year

**Major credit facility (Sept 2025)**: $2.4 billion (Goldman Sachs + Citi + Apollo); $1.4B initial + $1B optional 3-year.

## Use cases

Pay-in-3 BNPL at Saudi + UAE + Bahrain + Kuwait merchants (cardinal use); Pay-in-24-months installment financing (post-SAMA license); merchant-checkout integration at 87K+ retailers; high repeat-purchase frequency (12x/year fashion).

## Implementations & partners

**Operator**: **Tamara** (Saudi-HQ).

**Major investors**: **Sanabil Investments (Saudi PIF), Shorooq Partners, Coatue, Endeavor Catalyst**.

**Credit facility partners**: **Goldman Sachs + Citi + Apollo** ($2.4B, Sept 2025).

**Major MENA BNPL competitor**: **[Tabby](https://docs.barcoder.ai/docs/wallets/tabby)** (UAE-headquartered; 15M+ users; $4.5B+ valuation).

**Other MENA fintech competitors**: traditional bank credit cards + [STC Pay](https://docs.barcoder.ai/docs/standards/stc-pay) + [Careem Pay](https://docs.barcoder.ai/docs/wallets/careem-pay).

**Regulators**: **SAMA + per-country**.

## Fun facts

- **2020 founded by Abdulmajeed Alsukhan + Turki Bin Zarah + Abdulmohsen Albabtain** in Saudi Arabia.
- **20M+ customers + 87K+ merchants (2025)**.
- **Saudi PIF (Sanabil Investments) lead investor** — substantial sovereign-wealth backing.
- **September 2025 $2.4B facility** (Goldman Sachs + Citi + Apollo) — largest asset-backed facility of its kind in MENA.
- **35-40% KSA e-commerce BNPL penetration (2025)** — rivals cash-on-delivery.
- **12x/year repeat purchase rate** for fashion BNPL users — substantial engagement.
- **SAMA-licensed** for consumer finance + BNPL — formal Saudi regulatory framework.
- **Primary competitor Tabby is UAE-HQ** while Tamara is Saudi-HQ — interesting MENA BNPL duopoly with cross-border competition.

## Comparison

| Feature | Tamara | [Tabby](https://docs.barcoder.ai/docs/wallets/tabby) | [Klarna](https://docs.barcoder.ai/docs/wallets/klarna) (global) | [Affirm](https://docs.barcoder.ai/docs/wallets/affirm) | Afterpay |
|---|---|---|---|---|---|
| Operator | **Tamara (Saudi-HQ)** | Tabby (UAE-HQ) | Klarna Group plc (NYSE: KLAR) | Affirm Holdings (NASDAQ: AFRM) | Block, Inc. (XYZ) |
| Markets | **Saudi + UAE + Bahrain + Kuwait** | UAE + Saudi + Kuwait | 45+ globally | US + CA + AU + GB | 8 globally |
| Users | **20M+ (largest in Saudi Arabia)** | 15M+ | 180M total / 114M Q3 active | ~27M | Major |
| Merchants | **87K+** | 40K+ | Major | 250K+ | Major |
| Credit facility | **$2.4B (Sep 2025; Goldman+Citi+Apollo)** | $1.8B+ raised | n/a | n/a | n/a |
| SAMA license | **Yes (consumer finance + BNPL)** | Yes | n/a (non-MENA) | n/a | n/a |
| Saudi sovereign-wealth backing | **Sanabil (Saudi PIF) lead** | PIF + Mubadala | n/a | n/a | n/a |

## Status

**Active, largest BNPL in Saudi Arabia + MENA-leading** <sup>[1][1], [2][2]</sup>:
- **Tamara (Saudi-HQ)** since 2020.
- **20M+ customers + 87K+ merchants across SA + AE + BH + KW**.
- **September 2025 $2.4B asset-backed facility** (Goldman Sachs + Citi + Apollo) — largest of its kind in MENA.
- **35-40% KSA e-commerce checkout BNPL penetration** — rivals cash-on-delivery.
- **SAMA-licensed**.

## Sources

[1]: https://www.wamda.com/2025/09/tamara-secures-record-24-billion-facility-backed-goldman-sachs "Tamara $2.4B facility Goldman Sachs — Wamda"
[2]: https://tamara.co/en-sa "Tamara — official"
[3]: https://www.menabytes.com/tamara-consumer-finance-sama-license/ "Tamara SAMA consumer finance + BNPL license — MENAbytes"
[4]: https://giraffy.com/ksa/en/learn/loans-financing/bnpl/bnpl-guide-saudi-arabia "Saudi BNPL Guide — Giraffy"
[wiki-tamara]: https://techcrunch.com/2023/12/18/saudi-shopping-and-bnpl-platform-tamara-tops-1b-valuation-in-340m-series-c-funding/ "Tamara $1B+ Series C — TechCrunch"
[sa-cro]: https://docs.barcoder.ai/docs/payments/SA

- [1] [Tamara $2.4B facility Goldman Sachs — Wamda][1]
- [2] [Tamara — official][2]
- [3] [Tamara SAMA license — MENAbytes][3]
- [4] [Saudi BNPL Guide — Giraffy][4]
- [wiki-tamara] [Tamara $1B+ Series C — TechCrunch][wiki-tamara]
- <sup>[Saudi Arabia report](https://docs.barcoder.ai/docs/payments/SA)</sup> In-corpus: `reports/countries/SA-saudi-arabia.md`

## Source

Biography extracted from [tamara.md](https://docs.barcoder.ai/source/wallets/tamara). See `matrix.md` for standards-support matrix if present.