محمد يحي
The Saudi financial technology company, Tamara, has achieved significant success by announcing its transformation into a unicorn company valued at one billion dollars.
This follows the closing of a new funding deal in its Series C round, totaling 340 million dollars today.
The round was led by Sanabil Investments and Ahli Financial, with participation from other investors, including Shorooq Partners, Pinnacle Capital, and Imbilz.
This recent funding round adds substantial value to Tamara’s remarkable journey, as it has raised over 500 million dollars in equity financing and 400 million dollars in debt financing since its founding in late 2020 by Abdulmajeed Alsukhan, Turki Bin Zarah, and Abdulmohsen Al-Babtain.
Tamara’s previous funding rounds were of great significance, each representing a crucial stage in the company’s growth:
August 2022: Series B funding round of 100 million dollars led by Sanabil Investments. Participants included Kooto, Shorooq Partners, Indevor Catalyst, and CheckOut.com.
April 2021: Series A funding round of 110 million dollars (including debt financing) led by CheckOut.com.
January 2021: Seed funding round of 6 million dollars led by Impact46, with participation from notable investors such as Nama Ventures, Hala Ventures, Khwarizmi Ventures, Fajr Ventures, Sadara Ventures, and Wealth Well.
Tamara’s success is evident in its ability to secure substantial funding in various rounds, signifying investor confidence and trust in the company’s business model and growth potential.
This recent milestone further establishes Tamara as a major player in the Saudi fintech sector, showcasing its ability to attract significant investments and solidify its position as a prominent unicorn in the industry.
