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Tamara, a Saudi financial technology startup, recently announced Announced $100 million in its latest Series B funding round led by Sanabil Investments. According to details Tamara shared, the fintech company saw revenue grow tenfold year-over-year.
In January 2021, Tamara closed a $6 million seed funding round. Last April, the company secured his $110 million Series A round led by Checkout.com. Through its recent Series B funding, Tamara plans to expand his presence in the growing MENA region.
Abdulmajeed Alsukhan, co-founder and CEO of Tamara, said: Tamara has established itself as a reliable, trustworthy and sustainable local partner for any regional or global company looking to expand in Saudi Arabia and his MENA. ”
We act as a marketing and discovery channel for our partner merchants to drive new customers and increased sales online and in-store. We saw a 40% increase in , a 20% decrease in cash on delivery, a 15% increase in conversions, and a significant drop in order return rates, he added.
Adoption of innovative technologies across Saudi Arabia has increased significantly over the past few years. As a result, the country’s fintech sector has attracted investments worth around $347 million in 2021. Saudi Arabia has some of the most valuable fintech startups in the MENA region.
Remo Giovanni Abbondolo, vice president of MENA at Checkout.com, believes Tamara has become a popular payment method among customers in the region.
As MENA’s leading payment provider, Checkout.com’s investment demonstrates our trust in Tamara’s exceptional team and our commitment to supporting digital growth in the region. Checkout.com will also offer Tamara as a payment method for merchants to accelerate growth in one of the fastest growing markets in the world.”
Tamara, a Saudi financial technology startup, recently announced Announced $100 million in its latest Series B funding round led by Sanabil Investments. According to details Tamara shared, the fintech company saw revenue grow tenfold year-over-year.
In January 2021, Tamara closed a $6 million seed funding round. Last April, the company secured his $110 million Series A round led by Checkout.com. Through its recent Series B funding, Tamara plans to expand his presence in the growing MENA region.
Abdulmajeed Alsukhan, co-founder and CEO of Tamara, said: Tamara has established itself as a reliable, trustworthy and sustainable local partner for any regional or global company looking to expand in Saudi Arabia and his MENA. ”
We act as a marketing and discovery channel for our partner merchants to drive new customers and increased sales online and in-store. We saw an average increase of 40%, a 20% decrease in cash on delivery, a 15% increase in conversions, and a significant drop in order return rates, he added.
Adoption of innovative technologies across Saudi Arabia has increased significantly over the past few years. As a result, the country’s fintech sector has attracted investments worth around $347 million in 2021. Saudi Arabia has some of the most valuable fintech startups in the MENA region.
Remo Giovanni Abbondolo, vice president of MENA at Checkout.com, believes Tamara has become a popular payment method among customers in the region.
As MENA’s leading payment provider, Checkout.com’s investment demonstrates our trust in Tamara’s exceptional team and our commitment to supporting digital growth in the region. Checkout.com will also offer Tamara as a payment method for merchants to accelerate growth in one of the fastest growing markets in the world.”
