Saudi quick commerce platform Ninja has secured $254 million in a pre-IPO funding round led by Riyad Capital, with participation from vii Ventures, Altia Investment, Tamasuk Al Rajhi, and other local investors. Founded in 2022 and operating across Saudi Arabia, Bahrain, Kuwait, and Qatar, Ninja has become the region’s leading quick commerce platform.
The Riyadh-based startup offers on-demand delivery of groceries, household essentials, beauty products, pharmacy items, and food, competing with major players like Delivery Hero and Jahez. Ninja has reached operational profitability and generates nearly $1 billion in annual revenue, likely representing gross merchandise value (GMV).
Ninja attributes its success to a robust operating system integrating advanced technology, supply chain management, and instant delivery capabilities. Mohammed Alarifi of Riyad Capital praised the company’s innovation and market leadership in Saudi Arabia’s retail sector.
The new funding will support Ninja’s expansion and IPO preparation, tapping into the rapidly growing quick commerce market in the Gulf region.
