Latest news with #RiyadCapital
Zawya
07-07-2025
- Business
- Zawya
Riyad Capital leads SAR 1bln investment round in Ninja, the Kingdom's leading Q-commerce platform
Riyadh, Saudi Arabia – Riyad Capital, a leading investment manager, today announced it has led an SAR 1 billion investment round through the Riyad Pre-IPO Opportunities Fund for Ninja, the fastest-growing Q-Commerce platform in Saudi Arabia. Founded in 2022, Ninja has achieved record-breaking growth rates and gained significant market leadership in Saudi Arabia's retail sector in a short span. This has been driven by a differentiated business model, exceptional operational efficiency, and growing profitability that surpasses comparable players in the market. Through its digital platform, Ninja offers an integrated shopping experience across multiple consumer segments, including groceries, household goods, personal care, digital pharmacy, and restaurants. The company achieved operational profitability within a short timeframe and has seen accelerated growth in its customer base and order volumes, positioning it as a game-changer in the consumer retail market. Mohammed Alarifi, Managing Director of Private Equity and Venture Capital at Riyad Capital, said: 'Ninja embodies the innovation and entrepreneurial spirit that define Saudi Arabia's startup ecosystem. In a short span since its establishment, the company reimagined the digital consumer experience and secured a leading position in the Kingdom's retail market, while also delivering exceptional profitability.' The funding will support Ninja's expansion into key cities across Saudi Arabia, enhance its technology infrastructure, strengthen its logistics capabilities, and enable entry into new consumer segments such as digital pharmacies. This investment reaffirms Riyad Capital's long-standing leadership in the Kingdom's technology sector since 2016 through its private equity and venture capital platform, which manages over SAR 2 billion in assets. Its portfolio includes companies such as Foodics, Unifonic, and Sure Global Tech, with exits exceeding SAR 150 million to date. About Riyad Capital Riyad Capital is a leading fully-fledged investment manager and the largest custodian in Saudi Arabia. Through its four business lines – asset and wealth management, brokerage, corporate investment banking, and securities services – the company offers end-to-end investment management solutions. Within the PE/VC sector, Riyad Capital is recognized as a pioneer having launched Saudi Arabia's first venture capital vehicle – Riyad Taqnia Fund – in 2016. The firm has since invested and exited several technology startups, including Foodics, Sure Global Tech, Truckker and Unifonic, generating more than $150 million in exit proceeds to date. As of March 2025, Riyad Capital managed over $26 billion in assets under management and more than US$ 218 billion in assets under custody. The company was recognized among the Middle East's top 5 asset managers for 2024 and 2025 by Forbes Middle East and received the Saudi Capital Market Award for Custodian of the Year 2024.
Arab News
05-07-2025
- Automotive
- Arab News
Saudi Arabia crowns new technology unicorn
RIYADH: Saudi Arabia and the wider Middle East and North Africa region have witnessed a surge of startup funding rounds in recent weeks, underscoring the Kingdom's pivotal role in driving technology investment and digital transformation across diverse sectors. Saudi-based quick-commerce startup Ninja has raised $250 million in a funding round led by Riyad Capital, lifting its valuation to $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. PetroApp secures $50m to digitize fuel and fleet management PetroApp, Saudi Arabia's digital fuel and fleet management platform, has raised $50 million in a funding round led by Jadwa Investment through its GCC Diversified Private Equity Fund, with participation from Bunat Ventures. Established in 2018 by Abdulaziz Al-Senan, PetroApp operates a cashless system designed to streamline corporate and government fleet payments while reducing fraud. The platform also offers value-added vehicle services such as oil changes, car washes, and tire replacements. The capital injection will support PetroApp's retail launch within Saudi Arabia, accelerate its international expansion plans, and further develop its proprietary technology infrastructure. Tariq Al-Sudairy, managing director and CEO of Jadwa Investment, said: 'PetroApp presents a compelling investment opportunity, supported by a robust technology infrastructure and strong network effects.' Abdulaziz Al-Senan, co-founder and CEO of PetroApp, described the partnership as a critical milestone, adding: 'We are excited to embark on this partnership at a pivotal stage in PetroApp's journey. Jadwa's institutional expertise will be critical in strengthening our foundation, accelerating growth, and expanding our leadership in Saudi Arabia and beyond.' Flawless raises $1.5m to expand AI-powered career guidance Saudi Arabia-based Flawless has secured $1.5 million in pre-seed funding from a group of unnamed angel investors with an emphasis on early-stage innovation. Founded by Shaimaa Al-Ghamdi, the platform combines generative artificial intelligence with principles of social psychology to deliver personalized career guidance to users seeking better-informed professional decisions. Flawless evolved from a personal blog launched in 2023 to a fully operational digital business in 2024, targeting a gap in the market for data-driven career support solutions. Al-Ghamdi said: 'What began as a passion project is now a data-driven platform helping thousands make smarter career decisions.' She added: 'This funding validates our approach and gives us the fuel to scale responsibly and impactfully.' The investment will be allocated to scaling the company's technology infrastructure, refining its product offering, and recruiting new talent to grow operations. Byzanlink raises $1m to build blockchain-based financial infrastructure Dubai-based Byzanlink, a real-world asset tokenization platform, has closed a $1 million private funding round backed by Outlier Ventures, NTDP Saudi Arabia, Smart IT Frame, Sensei Capital, and several angel investors. Founded in 2024 by Anbu Kannappan, the startup operates from Dubai Multi Commodities Centre and is focused on building infrastructure to tokenize traditional financial assets for both institutional and retail investors. What began as a passion project is now a data-driven platform helping thousands make smarter career decisions. Shaimaa Al-Ghamdi, Flawless founder The company aims to improve market access, transparency, and operational efficiency through blockchain technology. Byzanlink plans to allocate the proceeds toward product development, expanding integrations with ecosystem partners, and reinforcing compliance with evolving regulatory frameworks. Kannappan said: 'Support from such a diverse and forward-thinking group of partners is a strong signal for what we're building. We believe the next generation of financial infrastructure will be powered by transparency, automation, and access. We're committed to building that foundation.' Idea-L secures $1m to scale venture creation platform UAE-based idea-L has raised a $1 million pre-seed round from a group of undisclosed angel investors to advance its AI and Web3-powered venture creation platform. Founded in 2024 by Peter Goodwin, Daniel Muller, and Mark Hill, idea-L is designed to help entrepreneurs transform early-stage concepts into investor-ready businesses through automation and digital collaboration tools. The funding will be used primarily for technical hiring, platform enhancements, and the launch of new products intended to streamline venture creation workflows. The company aims to position itself as a key enabler in the UAE's growing startup ecosystem by combining generative AI and tokenized ownership structures. InstaBank secures $15m to drive digital banking in Iraq InstaBank, officially operating as Al-Fawr Digital Bank, has raised $15 million in funding to support the rollout and growth of its digital banking services in Iraq. UAE-based EQIQ, a venture capital fund and venture builder, contributed $3 million as part of the round, which aims to transform Iraq's underdeveloped banking sector. Founded in 2025 by Hussain Qaragholi, InstaBank plans to use AI-powered tools and customer-centric design to deliver accessible, scalable financial services. The digital bank will play a central role in EQIQ's broader fintech strategy, which integrates banking, logistics, and social commerce solutions to accelerate financial inclusion across Iraq. The investment underscores the rising investor interest in digitizing the country's financial infrastructure and tapping into its large unbanked population. EQIQ views InstaBank as a strategic asset to drive economic participation and modernize financial ecosystems. AgriCash raises seed funding to scale AI-powered agri-fintech platform Egypt-based agri-fintech platform AgriCash has secured an undisclosed amount of seed funding in a round led by Alex Angels, with participation from regional investors. Founded in 2024 by Diaa Youssef and Mostafa El-Sehli, AgriCash offers farmers a digital platform combining financing solutions, AI-driven agronomic insights, crop insurance, and access to input markets. The funding will help AgriCash expand its operations across Egypt and into neighboring markets, strengthen its AI infrastructure, and finalize integrations with insurance and banking partners. The company's flagship buy now, pay later model provides farmers with interest-free access to agricultural and livestock supplies for up to 12 months, with credit ceilings of up to 3 million Egyptian pounds ($60,777). AgriCash aims to achieve 500 million Egyptian pounds in business volume by 2025 and plans to launch livestock financing in 2026 to consolidate its position as an end-to-end agri-finance platform serving smallholder farmers and commercial producers.
Zawya
03-07-2025
- Business
- Zawya
Ninja closes $250mln funding, plans IPO on Tadawul by 2027
Riyadh - Saudi q-commerce startup Ninja has raised $250 million in a funding round led by Riyad Capital, reaching a $ 1.50 billion valuation. The fundraising transaction anchors the platform's status as the Kingdom's latest tech unicorn, according to a press release. Ninja will use the new capital to expand operations, scale its logistics capabilities, and prepare for a public listing on the Saudi Exchange (Tadawul) by 2027. The company joins a growing list of Gulf tech firms considering initial public offerings (IPOs) as the region seeks to establish a deeper and more dynamic capital market ecosystem. Saudi digital fuel and fleet management platform PetroApp also unveiled IPO plans on Tadawul. The funding round also highlights Riyad Capital's role as a leading institutional backer of MENA startups and Saudi Arabia's rising stature as a venture capital hub. Established in 2022 by Saud Al Qahtani and Canberk Donmez, Ninja delivers groceries and daily essentials across Saudi Arabia, Bahrain, Qatar, and Kuwait. In January 2023, Ninja raised a pre-seed round led by Bunat Ventures, along with several venture capital (VC) firms from the region, the US, and family offices in Saudi Arabia. All Rights Reserved - Mubasher Info © 2005 - 2022 Provided by SyndiGate Media Inc. (
CairoScene
02-07-2025
- Business
- CairoScene
Ninja Becomes Saudi Arabia's Fastest Unicorn After $250 Million Raise
Saudi-based Ninja raises $250 million in fresh funding, reaching a $1.5 billion valuation and joining the region's growing unicorn ranks. 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.
Zawya
02-07-2025
- Business
- Zawya
Riyad Bank's Riyad Capital moves forward with IPO plan
Riyadh - Riyad Capital, a subsidiary of Riyad Bank, submitted an application to the Capital Market Authority (CMA) for the initial public offering (IPO) of Riyad Capital. Riyad Capital plans to float its shares on the Main Market of the Saudi Exchange (Tadawul), according to a bourse filing. The offering is subject to regulatory and final board approval based on market conditions and shareholder interest. As of 31 March 2025, Riyad Bank reported net profits valued at SAR 2.48 billion, which reflected an annual growth of 19.93% from SAR 2.07 billion in the same period a year ago. All Rights Reserved - Mubasher Info © 2005 - 2022 Provided by SyndiGate Media Inc. (
