Overview
Tamara is a Riyadh-based buy-now-pay-later platform, licensed as a fintech under Saudi Arabia's Central Bank with capital of 515 million Saudi riyals, offering consumers in Saudi Arabia, the UAE, Kuwait, and Bahrain installment plans of up to 24 months with no late fees, and describing its products as Sharia-compliant. The company uses machine-learning credit scoring on alternative financial data to underwrite shoppers and extend point-of-sale credit across sectors including fashion, electronics, education, healthcare, and travel. On the merchant side, Tamara integrates with platforms such as Salla, Shopify, WooCommerce, and Magento, and offers a Tamara Ads marketing product to help retailers drive sales. Its Tamara Smart membership adds cashback and exclusive deals for a monthly fee, and the company is recognized as Saudi Arabia's first fintech unicorn, backed by investors including SNB Capital, Sanabil, Coatue, and Checkout.com.
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