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BNPL platform Tamara raises USD 110 mln in Series A round led by Checkout.com

Monday 26 April 2021 14:52 CET | News

Saudi Arabia-based buy-now-pay-later (BNPL) platform Tamara has raised USD 110 million in a Series A round led by global payment processor Checkout.com.

According to menabytes.com, the round is comprised of debt and equity and comes after the company raised USD 6 million in January 2021, in the country’s largest seed round.

Tamara was launched in September 2020 and it enables online and offline merchants in Saudi Arabia and the United Arab Emirates to offer BNPL services to their customers. The platform allows customers to defer their payment for 30 days or pay it in 3 instalments over the course of two months. The options are available on the checkout pages and through in-store QR codes. Customers can pay for their purchases using Tamara’s mobile app which supports different payment methods including Mada, Visa, Mastercard, and Apple Pay.


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Keywords: BNPL, ecommerce, funding
Categories: Payments & Commerce
Companies:
Countries: Saudi Arabia
This article is part of category

Payments & Commerce