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Tamara, the leading Buy Now, Pay Later platform in MENA, has introduced “Split in 6” for online purchases with IKEA Saudi Arabia by Alsulaiman Group.
The “Split in 6” solution for IKEA will allow customers to buy online and split their invoices into 6 payments, with no interest or hidden fees. With this feature, Tamara aims to enhance customers’ experience by offering them a convenient, hassle-free payment alternative while still ensuring the best-added value to IKEA. This partnership with Alsulaiman Group will allow Tamara to expand the service to IKEA Bahrain soon.
In April 2021, Tamara raised $110M in a Series A funding round led by Checkout.com. Since the funding round, it has expanded its offering to in-store purchases via Tamara’s mobile app and launched its services in the UAE.
IKEA, the global leader in home furniture design and retail, has over 500 stores worldwide and $46.4 billion in sales in 2020. IKEA entered Saudi Arabia in 1983 through Alsulaiman Group. Today, it operates 8 customer meeting points across the Kingdom including stores and order and collection points in addition to an advanced digital commerce platform, attracting over 20 million visitors annually.
“At Tamara, we are building a robust infrastructure that allows us to customize and optimize our products to add the best value for our merchant partners and their customers,” Abdulmajeed Alsaikhan, the co-founder and CEO of Tamara commented, “we are proud to provide a unique offering to IKEA’s Saudi Arabia customers. With this new service, we will empower IKEA’s clients to make choices that suit their dreams and aspirations, without having to worry about immediate finances.”
Omar Mugharbel, Chief Commercial Officer of IKEA Saudi commented on the partnership, “empowering our customers to live a better everyday life is at the heart of everything we do. Our partnership with Tamara will provide our customers an easy way to shop at IKEA and continue to buy the home furnishing solutions they love with ease.”
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About Tamara
Tamara is the leading Buy Now, Pay Later platform in the MENA region. The company was founded and headquartered in Riyadh, Saudi Arabia in 2020 and was the first to acquire a sandbox license by the Saudi Central Bank (SAMA) in its category at the time. Tamara now operates in both KSA and UAE with two main products: “Pay in 30 days”, “Split in 3”, and “Split in 6” which are available both online and in-store through Tamara’s customer app.
About IKEA
The IKEA vision is to create a better everyday life for many people. IKEA’s business idea is to offer well-designed, functional and affordable, high-quality home furnishing, produced with care for people and the environment.
The IKEA Brand unites more than 200.000 co-workers and hundreds of companies with different owners all over the world. It’s one brand, but it reaches millions of hearts and homes. Their value chain is unique. It includes everything from product development, design, supply, manufacture, and sales – and of course, it begins and ends with our customers.
IKEA was founded in Sweden in 1943.
About Alsulaiman Group
Alsulaiman Group is owned by the Alsulaiman family and was established by Dr. Ghassan Ahmed Alsulaiman in 1983 in Jeddah, Saudi Arabia. The group comprises a number of companies specialized in retail trade, logistics and real estate development. It was created to oversee, strengthen, and support the strategic direction of its entities in every respect, particularly by creating a more efficient organizational and operating structure to seize new market opportunities and confront the challenges ahead.
For inquiries
Contact Tamara
pr@tamara.co
Contact IKEA Saudi Arabia or Alsulaiman Group
media@ikea.com.sa
© Press Release 2021
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