Saudi Fintech Tamara Secures $1.4 Billion Debt Financing from Goldman, Citi, and Apollo

Saudi Arabia-based fintech Tamara is set to receive at least $1.4 billion in financing from Goldman Sachs, Citi, and Apollo Global Management. The deal, which will refinance and expand a previous debt facility, is among the largest asset-backed financing deals in the Middle East. The transaction underscores the growing interest from global finance firms in the region and Saudi Arabia's growing pull for venture investment.

Saudi Arabia-based fintech Tamara is set to receive at least $1.4 billion in financing from a group of lenders including Goldman Sachs Group Inc., Citigroup Inc., and Apollo Global Management Inc. The deal, which will refinance and expand a previous debt facility arranged by Goldman, is among the largest asset-backed financing deals in the Middle East Goldman, Citi Among Lenders for Tamara’s $1.4 Billion Debt Deal^[1].

The transaction underscores the growing interest from global finance firms in the region and Saudi Arabia's increasing pull for venture investment. Tamara, one of the region’s best-funded "buy now, pay later" firms, became a unicorn in 2023, less than three years after its founding. Backers include a subsidiary of Saudi Arabia’s sovereign wealth fund and payments company Checkout.com Goldman, Citi Among Lenders for Tamara’s $1.4 Billion Debt Deal^[1].

The participation of Wall Street banks and Apollo highlights rising interest from global finance firms seeking to deploy capital in the Middle East. Tamara competes with Tabby, which also secured an asset-backed credit line from JPMorgan Chase & Co. in 2023 Goldman, Citi Among Lenders for Tamara’s $1.4 Billion Debt Deal^[1].

The deal also reflects Saudi Arabia’s growing influence in the fintech sector. Startups in the region raised $1.35 billion in the first half of 2025, nearly double the prior year, led by Saudi Arabia and the United Arab Emirates. This stands in contrast with global emerging markets, where venture funding fell to $3.98 billion—the weakest first half since 2017 PRESSR: Sovereign-backed VentureSouq closes second FinTech fund, marking a major milestone for MENA’s startup ecosystem^[2].

Goldman Sachs has pledged to expand private credit in the Gulf and is relocating a senior executive to the region. Other recent developments include Pollen Street Capital extending a $100 million lending facility to a UAE fintech and Nomura Holdings Inc. providing debt financing to a Dubai-based luxury developer Goldman, Citi Among Lenders for Tamara’s $1.4 Billion Debt Deal^[1].

Venture capital firm VentureSouq announced the close of its second FinTech Fund, marking a significant milestone for the MENA startup ecosystem. The fund, supported by top-tier limited partners, will focus on early-stage investments in FinTech and adjacent SaaS companies PRESSR: Sovereign-backed VentureSouq closes second FinTech fund, marking a major milestone for MENA’s startup ecosystem^[2].

These developments indicate a robust and evolving fintech landscape in the Middle East, driven by strategic investments and growing institutional confidence. The region's projected net revenue growth of 35% annually through 2028 underscores its potential for innovation and financial growth PRESSR: Sovereign-backed VentureSouq closes second FinTech fund, marking a major milestone for MENA’s startup ecosystem^[2].