Ninja Reaches Unicorn Status as It Eyes 2027 IPO

Quick-commerce startup Ninja has become Saudi Arabia’s latest tech unicorn after raising $250 million in a funding round led by Riyad CapitalDealroom has a profile for this one. Try Dealroom →. The round brings the company’s valuation to $1.5 billion and supports its ambitions to go public by 2027 on the Saudi Exchange (Tadawul), aligning with the region’s broader momentum toward tech-driven capital market growth.

Founded in 2022 by Saud Al QahtaniDealroom has a profile for this one. Try Dealroom → and Canberk DonmezDealroom has a profile for this one. Try Dealroom →, Ninja offers ultra-fast delivery of groceries and household essentials across Saudi Arabia, Bahrain, Qatar, and Kuwait. The company has rapidly emerged as a regional player in the evolving q-commerce space, which focuses on convenience and speed through on-demand platforms and dark-store logistics.

The newly raised capital will be directed toward expanding operations, strengthening last-mile infrastructure, and preparing for its IPO. Riyad Capital’s backing not only validates Ninja’s model but also signals the increasing influence of Saudi institutional investors in the startup ecosystem. This comes as the Kingdom continues to establish itself as a venture capital hub within the MENA region.

Ninja had previously secured a pre-seed round in late 2022, led by Bunat VenturesDealroom has a profile for this one. Try Dealroom → and supported by local and international investors, although the amount was not disclosed. Its swift rise from early funding to unicorn valuation reflects both executional speed and investor confidence in the scalability of its business model.

As it scales, Ninja joins a growing cohort of Gulf tech firms preparing for public markets—positioning itself as a key player in the future of consumer logistics and digital commerce across the region.

Source: Wamda

R.B