Ninja Becomes Saudi Arabia's Fastest Unicorn After $250 Million Raise
Jul 02, 2025
Saudi delivery platform Ninja has officially become the Kingdom's fastest-growing unicorn after closing a $250 million funding round that pushed its valuation to $1.5 billion. The round was led by Riyad Capital and comes just three years after the company's founding in 2022.
Founded by Ebrahim Al-Jassim - also behind food delivery pioneer HungerStation - Ninja offers fast delivery services across Saudi Arabia, Bahrain, Kuwait, and Qatar, catering to groceries, pet supplies, and household essentials. The platform has processed millions of orders and is positioning itself for a public listing by 2027.
The funding milestone places Ninja alongside other GCC unicorns such as Tamara and Tabby, reinforcing Saudi Arabia's growing influence in the MENA startup ecosystem. Despite a global VC slowdown, Saudi Arabia continues to see robust investment activity, with the first quarter of 2025 alone seeing nearly $400 million in startup funding.
Ninja's model of hyper-fast, on-demand logistics aligns with the Kingdom's Vision 2030 goals, which aim to diversify the economy through innovation, tech infrastructure, and local entrepreneurship. The new capital is expected to accelerate Ninja's expansion and strengthen its operational capacity across the Gulf.
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