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Latham and the Law Firm of Salman M. Al-Sudairi Advises Tamara on Growth Debt Financing

March 16, 2023
The financing represents the first-of-its-kind debt financing through securitisation in the Middle East.

Latham & Watkins and the Law Firm of Salman M. Al-Sudairi has advised Tamara, the leading shopping and payments platform in Saudi Arabia and the wider GCC region, in relation to the closing of a first-of-its-kind receivables warehouse facility of up to US$150 million from Goldman Sachs. The latest round brings Tamara’s total funding in equity and debt up to US$366 million. The funding will be used to help Tamara meet the accelerating demand for its flagship BNPL product and continue its growth across new verticals.

The Latham team was led by London partner Tom Cochran and Dubai partner Eyad Latif, with Dubai partner Christian Adams, counsel Omar Maayeh, and London associate Leah Morgan.

The Law Firm of Salman M. Al-Sudairi team was led by counsel Peter Norris, with associates Talal Abdul and Sumaya Bamakhrama.