Homegrown quick delivery app Ninja raised USD 250 mn from local investors in a funding round led by Riyad Capital, pushing its valuation to about USD 1.5 bn, Bloomberg reported yesterday, citing unnamed sources familiar with the matter.

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The fundraising comes ahead of a planned IPO for Ninja in 2027, with the company currently in talks to go public, although no final decisions on valuation or timeline have been disclosed.

About Ninja: Founded in 2022, Ninja is a rapid delivery startup operating in Saudi Arabia, Bahrain, Qatar, and Kuwait. The app offers ultra-fast delivery for everyday items — from groceries and pet supplies to household essentials — catering to the growing demand for convenience in the region.

We knew this was coming: In March, the company had been in talks for a potential fundraising round that would value the company at USD 1 bn.

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