FINTECH FINANCE

Saudi Arabia’s Tamara raises $2.4B in syndicated debt deal

The deal will refinance and increase a previous $500 million asset-backed facility, helping the company to expand its credit and payment products

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Saudi Arabian buy-now-pay-later company Tamara secured up to $2.4 billion in financing from backers including Goldman Sachs, Citi and Apollo in what the company described as the largest syndicated debt deal by a Middle East fintech firm.