Funding round
Tamara Series C
Tamara, which works in digital payment solutions delivery in Riyadh, raised $340M in a Series C round announced on 18 Dec 2023, led by SNB Capital and Sanabil, at a $1.00B post-money valuation. 8 firms took part, 4 of them already investors. It is Tamara's third venture round on record; the one before was a Series A in Apr 2021.
$340M
Amount raised
$1.00B
Post-money valuation
$660M pre-money
8
Investors
2 leads
34%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Tamara at $1.00B after the new money. The $340M bought investors about 34% of the company. It came 32 months after Tamara's Series A. It is 75% of the $456M Tamara has raised in the venture rounds on record. No later venture round is on record for Tamara.
Tamara's funding rounds
Tamara has 3 venture rounds on record and 4 other deals. This one is highlighted.
- Seed 20 Jan 2021, led by Impact46 $6.0M
- Series A 22 Apr 2021, led by Checkout.com $110M
- Debt not a venture round 24 Mar 2023 $150M
- Debt not a venture round 14 Nov 2023, led by Goldman Sachs and Shorooq Partners $250M
- Debt not a venture round 16 Nov 2023, led by Shorooq Partners $50M
- Series C this round 18 Dec 2023, led by SNB Capital and Sanabil $340M$1.00B post-money
- Debt not a venture round 15 Sep 2025 $2.40B
Investors
Who put money in
SNB Capital and Sanabil led the round with 6 other firms. SNB Capital, Coatue, Endeavor and Checkout.com had backed Tamara before.
Lead investors
- backs 2 venture-backed companies existing investor
- backs 24 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
16 Series C rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $66M, and this round was 5.2 times the median. The closest in time, other companies' Series C rounds in Payment Processing & Point of Sale:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Payment Processing & Point of Sale | 14 Feb 2024 | $50M | not disclosed | General Atlantic |
| Payment Processing & Point of Sale | 2 Oct 2023 | $40M | not disclosed | Morpheus Ventures |
| Payment Processing & Point of Sale | 21 Sep 2023 | $72M | not disclosed | not named |
| Payment Processing & Point of Sale | 3 Apr 2024 | $85M | not disclosed | EDC Investments |
| Vitesse Payment Processing & Point of Sale | 21 May 2024 | $93M | not disclosed | KKR |
| Payment Processing & Point of Sale | 17 Jul 2023 | $72M | $900M | Marshall Wace |
| Payment Processing & Point of Sale | 23 May 2023 | $48M | not disclosed | Avenir |
| Payment Processing & Point of Sale | 24 Apr 2023 | $41M | not disclosed | Orange Ventures and Portage |
Sources
Where this comes from
Reported by 4 sources.
Questions
Frequently asked
How much did Tamara raise in its Series C round?
Tamara raised $340M in its Series C round, announced in Dec 2023.
Who led Tamara's Series C round?
SNB Capital and Sanabil led it, with Shorooq Partners, Pinnacle Capital, Impulse, Coatue and Endeavor and 1 more.
What was Tamara's valuation at the Series C round?
$1.00B post-money ($660M pre-money).
How does it compare with other Series C rounds in Payment Processing & Point of Sale?
16 Series C rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $66M, and this round was 5.2 times the median.