DUBAI (Reuters) -Saudi Arabian start-up Tamara has secured an up to $2.4 billion financing package from backers including Goldman Sachs, Citi, and Apollo funds that will help the fintech company expand its credit and payment products, it said on Monday.

The Shariah-compliant package will refinance and increase a previous $500 million facility, Tamara said in a statement. The deal includes an initial $1.4 billion, with a further $1 billion available for a three-year period pending further approvals.

“The asset-backed facility will increase Tamara’s lending power and help the platform grow well beyond its current 20 million customers,” the company said.

Tamara is among the Gulf Arab region’s largest providers of buy-now-pay-later payment systems, which allow consumers to split payments fo

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