Riyad Capital Leads Ninja Funding Round

Saudi-based quick-commerce startup Ninja has raised US$250 million in a funding round led by Riyad Capital, lifting its valuation to US$1.5 billion and marking its emergence as the country’s latest technology unicorn.

Founded in 2022 by Saud Al Qahtani and Canberk Donmez, Ninja delivers groceries and daily essentials across Saudi Arabia, Bahrain, Qatar, and Kuwait, reflecting the region’s growing appetite for fast, tech-enabled consumer services.

The fresh capital will enable the company to scale logistics capabilities, expand into new geographies, and lay the groundwork for a planned public listing on the Saudi Exchange by 2027.

The transaction highlights Riyad Capital’s role as a prominent institutional investor in MENA startups, as well as Saudi Arabia’s rising stature as a venture capital hub as it diversifies its economy under Vision 2030.