Tamara allows customers to divide their payments into installments. It has 16 million registered users in Saudi Arabia, the U.A.E., and the wider GCC and partners with 60,000 merchants. Tamara obtained in principle approval to operate a finance license in Saudi Arabia in 2024, allowing it to expand into new products. It has raised $1.15 billion in funding to date between equity and debt. It is backed by investors including PIF’s Sanabil Investments, SNB Capital, Shorooq, Pinnacle Capital, Impulse, Coatue, Endeavor Catalyst and Checkout.com.