Saudi Unicorn Ninja Considers Tadawul IPO to Accelerate Vision 2030 Tech Ambitions

Ninja, a Saudi Arabia quick-delivery platform, is planning to extend a move for an initial public offering (IPO) in Riyadh with the aim of exploring a listing on the Saudi Exchange (Tadawul) fully launching later in 2026 or early 2027. 

Ninja is in the final stages of selecting investment banks to lead this offering with around $1.5 billion after fundraising. The company is growing to become one of the fastest online businesses in the Middle East. The platform services are available in Saudi Arabia, Bahrain, Qatar, and Kuwait while providing quick delivery services for groceries, household goods, and other necessities

Ninja’s previous investment round was conducted by Riyad Capital, to function as a pre-IPO in order to advance the company's financial sheet and facilitate growth into new verticals including medical products and digital services. 

In order to keep its competitive advantage in a market that is becoming more and more crowded, the company is also making major investments in infrastructure and logistics. 

In addition to offering investors liquidity, Ninja's listing, if it is successful, would represent an important milestone in the development of the Gulf's startup scene. The company's IPO goals, as one of the newest startups in the area, highlight the expanding ability of Middle Eastern tech companies to shift from fast growth to public market evaluation.

About Ninja

Founded in 2022 by Saud Al Qahtani and Canberk Donmez, Ninja has rapidly become a household name in Saudi Arabia’s quick-commerce sector, offering ultra-fast delivery of groceries, household items, and pet supplies. The startup raised $250 million in 2025, led by Riyad Capital, cementing its status as a startup with a valuation of $1.5 billion.