Ninja eyes Tadawul listing: Founder

Saud Alqahtani, founder of Ninja, a quick-commerce company, said that the company has a clear plan to list on the Saudi Exchange (Tadawul) in the coming years.

The listing will be a strategic step towards building financial transparency, boosting investor confidence, and supporting the company's regional and international expansion, he told Argaam.

Ninja currently covers more than 40 cities and provinces, including about 90% of the Kingdom's total population, he said, noting that the expansion was based on market studies and accurate analyses of user needs.

He pointed out that the company currently holds the largest market share in the digital grocery business in the Kingdom, whether in terms of the number of orders, service coverage, or usage frequency, adding that the success reflects a precise operational strategy focused on delivering an efficient shopping experience and a fast response to demand.

Regarding profitability, Alqahtani stated that Ninja generates operating profits in the grocery and several other sectors, but it is still in an expansion and investment phase in new markets and categories. The company is following a sustainable growth model that relies on analytics and data to support operational decisions.

He stated that the company operates in the instant delivery and quick-commerce (Q-Commerce) sector and is considered one of the leading players in the Kingdom’s digital retail market, backed by advanced infrastructure, including smart warehouses and supporting stores.

Ninja initially started in the grocery sector and successfully established its position by offering delivery within less than 30 minutes or less, said Alqahtani.

The company does not classify itself merely as a delivery app, but as an integrated digital retail company aiming to meet consumers’ daily needs in a market where online penetration remains low compared to traditional retail, which provides significant growth opportunities, he added.

Alqahtani said demand for digital groceries has grown rapidly recently, driven by evolving consumer behavior and a preference for fast delivery services, prompting the company to expand into complementary sectors such as pharmacies and beauty products by leveraging the same operational infrastructure.

He noted that Ninja raised $250 million in its latest funding round, led by Riyad Capital along with a group of strategic investors.

The funds were directed toward enhancing operational processes, developing technological solutions, and expanding geographic coverage and targeted sectors, Alqahtani said.