Saudi quick commerce firm Ninja raises $254m; enters unicorn club

Saudi quick commerce firm Ninja raises $254m; enters unicorn club

Ninja, a Saudi Arabia-based quick-commerce platform, has raised about $254 million in a pre-IPO funding round that valued it at $1.5 billion, the company said.

The round, anchored by Riyad Capital through the Riyad Pre-IPO Opportunities Fund, will support strategic growth plans and strengthen its market position while maintaining profitability, Ninja said.

The company, which operates in Saudi Arabia, Bahrain, Kuwait, and Qatar, plans to expand its footprint with launches in Oman and Jordan in the fourth quarter of 2025.

It also plans pilot deployments of dark stores in high-density districts of Riyadh and Jeddah in 2026 and eyes a potential initial public offering in 2027, with considerations for a dual listing on Saudi Arabia’s Tadawul and another regional stock exchange.

“This step marks an important milestone in Ninja’s journey towards the IPO and underscores investors’ confidence in our ability to lead the future of trade and technology in the region,” Ninja said.

Founded in 2022 in Saudi Arabia, Ninja offers a full-stack digital shopping experience across segments, including groceries, household items, beauty products, digital pharmacy, and restaurant orders.

Ninja said the investment underscores investor confidence in its vertically integrated model, which combines technology, warehousing, last-mile delivery, and real-time inventory management.

The company plans to maintain its profitability while aggressively expanding in a region witnessing surging demand for instant commerce and on-demand delivery.

Ninja operates in the competitive $3 billion quick commerce market in the Middle East and North Africa (MENA), going head-to-head with regional players such as Careem Now and Jahez, as well as global platforms like Getir and Gorillas.

The company is part of Saudi Arabia’s National Unicorn Program, which aims to nurture over 40 unicorns by 2030, and follows high-profile milestones such as BNPL firm Tabby’s $3.3 billion valuation and HUMAIN’s push into AI.

Edited by: Pramod Mathew

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