Skip to content

Allen & Overy advises Checkout.com on its largest M&A transaction to date

Related people
Foster David
David Foster

Partner

Dubai

View profile →

Buali Faisal
Faisal Buali

Senior Associate

Abu Dhabi

View profile →

Press contacts

For media enquiries relating to this topic, please contact:

Amira Alyamani

BD Manager

Dubai

View profile →

07 June 2021

Allen & Overy has advised Checkout.com on its investment in fintech firm Tamara, based in Saudi Arabia. The transaction is the largest M&A transaction undertaken by Checkout.com to date.

Checkout.com, which was valued at USD 15 billion in its most recent financing round, is one of the largest unicorns in Europe and most valuable privately-held fintech businesses globally. Checkout is an online payments company integrating electronic payments, analytics and fraud preventions into a single platform.

Tamara, which was founded in 2020, offers “buy now, pay later” consumer financing at the point of sale or a checkout of an online platform. Tamara currently operates in the “Regulatory Sandbox” of the Saudi Central Bank. The Sandbox provides preliminary permission to successful applicants to allow them to test new digital solutions in a live environment prior to issuing full financial services licences.

Middle East Head of Corporate and partner David Foster, who led the Allen & Overy team, commented: “This is an excellent example of how the Middle East is providing a regulatory framework and ecosystem for the evolution of a new generation of fast-growth companies such as Tamara. This is, in turn, leading to an increasing number of M&A transactions at the intersection of technology, financial services, data and intellectual property."

We are one of the very few firms in the region who are able to assemble a team of “on-the-ground” experts in all of these disciplines and are delighted to have supported Checkout.com on this strategic investment.

Middle East Head of Corporate and partner David Foster