Saudi Arabia-based quick-commerce platform Ninja has secured $250 million in a funding round led by Riyad Capital, boosting its valuation to $1.5 billion and becoming the Kingdom’s newest tech unicorn. Founded in 2022 by Saud Al Qahtani and Canberk Donmez, Ninja offers rapid delivery of groceries and daily essentials across Saudi Arabia, Bahrain, Qatar, and Kuwait.
The fresh capital will support Ninja’s expansion, enhance logistics capabilities, and prepare for a planned IPO on the Saudi Exchange (Tadawul) by 2027. The company’s growth reflects rising regional demand for fast, tech-driven consumer services.
Ninja’s funding round also underscores Riyad Capital’s growing influence as a key institutional investor in MENA startups and highlights Saudi Arabia’s expanding role as a regional venture capital hub.
