Tamara

Tamara is a leading fintech platform revolutionizing the shopping, payment, and banking experience in Saudi Arabia and the broader Gulf Cooperation Council (GCC) region. Founded in 2020 by Abdulmajeed Alsukhan, Turki Bin Zarah, and Abdulmohsen Al Babtain, the company emerged during the COVID-19 pandemic to address the growing demand for more inclusive and flexible digital payment solutions. Headquartered in Riyadh, Saudi Arabia, Tamara has rapidly grown to become the Kingdom's first homegrown fintech unicorn, achieving a valuation of over $1 billion. The company's core offering is a Buy Now, Pay Later (BNPL) service that allows customers to split their purchases into multiple interest-free installments or defer payment for up to 30 days. This model provides a transparent and Sharia-compliant alternative to traditional credit, eliminating hidden fees and interest charges for consumers.

The platform serves millions of users and partners with thousands of merchants, ranging from global brands like SHEIN, IKEA, Jarir, and Noon to local small and medium-sized enterprises. By integrating Tamara's payment solutions, merchants can experience increased conversion rates, higher average order values, and access to a wider customer base. Tamara was one of the first companies to receive a permit from the Saudi Central Bank (SAMA) to provide BNPL services, operating within its regulatory sandbox. This regulatory support has been instrumental in its growth and its mission to enhance financial inclusion. With a strong focus on customer-centricity and innovation, Tamara has expanded its operations to the UAE and Kuwait, and has support offices in Germany and Vietnam. The company continues to develop new products and services, aiming to build a comprehensive financial super-app that empowers individuals in their daily financial lives and supports the region's digital transformation in line with Saudi Vision 2030.