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

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.

The Sharia-compliant deal will refinance and increase a previous $500 million asset-backed facility, helping the company to expand its credit and payment products beyond 20 million customers, Reuters reports.

The package, announced at the Money 20/20 Middle East conference in Saudi Arabia on Monday, includes an initial $1.4 billion, with a further $1 billion available.

Fintech deal activity in the MENA region increased 69% year-on-year for the first half of 2025, according to MAGNiTT.

UAE school operator Taaleem acquires Kids First nursery group

UAE school operator Taaleem has agreed to buy a 95% stake in Dubai-based early learning provider Kids First Group, which manages 34 nurseries catering to 5,000 students across the UAE and Qatar.

KFG founder Kamil Najjar will retain a 5% stake and stay on as CEO.

Taaleem, which is listed on the Dubai Financial Market, said the acquisition would be self-funded through equity and debt.

Taaleem shares were up 6% today following the announcement.

Last year Taaleem signed a deal with Harrow School, the 450-year-old British boys school that counts Winston Churchill among its alumni. It is set to open two new Harrow facilities in the UAE next year.