5. Tamara*

$ Total funding: $116 million Buy now, pay later platform Founders: Abdulmajeed Alsukhan, Turki Bin Zarah, Abdulmohsen Albabtain Nationality: Saudi Investors: Checkout.com Headquarters: Saudi Arabia Established in: 2020

Tamara allows online and in-store shoppers in Saudi Arabia, the U.A.E. and Kuwait to split their payments across three installments. The Riyadh-headquartered startup was the first to acquire a sandbox license from the Saudi Central Bank in its category in 2020 and currently partners with over 2,000 merchants and around two million customers. It has processed transactions of around $266 million in 2021 and works with brands such as IKEA, SHEIN, Faces, Adidas and L'Occitane, among others. Abdulmajeed Alsukhan, the CEO and cofounder of Tamara, previously cofounded Habli in 2017, a Saudibased logistics provider for grocery delivery. Habli was acquired in the same year by Nana, which Alsukhan joined as cofounder—it has raised nearly $29 million to date.