Court opens FRP against Nana platform’s operator

The Commercial Court in Riyadh headquarters

The Commercial Court in Riyadh opened financial reorganization procedure (FRP) for Central Markets Co., the operator of the Nana grocery delivery app.

All creditors have been called to submit their claims within 90 days.

Founded in 2016, Nana was established by founder and CEO Sami Alhelwah, and has expanded to operate across 13 cities in Saudi Arabia.

In its early stages, the company raised around SAR 25 million in funding, backed by the Saudi Venture Capital Co. and Wamda Capital.

In early 2023, Kingdom Holding Co. led a funding round of about SAR 500 million, with participation from Sultan Holding, Al Jasser Holding, Red Diamond, Dallah Al-Baraka Group, AlJammaz Holding and others.