Nana

Online grocery platform facilitating deliveries of groceries and home essentials in Saudi Arabia.

Website: https://nana.sa/en/

Cover Block

PUBLIC

Field Value
Name Nana
Tagline Online grocery platform facilitating deliveries of groceries and home essentials in Saudi Arabia
Headquarters Riyadh, Saudi Arabia
Founded 2016
Stage Series C
Business Model B2C
Industry E-commerce / Retail
Technology Type Software (Non-AI)
Geography Middle East / North Africa
Growth Profile Venture Scale
Founding Team Co-Founders (2): Abdulmajeed Alsukhan, Sami Alhelwah
Funding Label $100M+
Total Disclosed ~$208,000,000

Links

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Executive Summary

PUBLIC

Nana is a Riyadh-based online grocery platform that has emerged as one of the better-capitalized consumer technology companies in Saudi Arabia, with roughly $208 million in disclosed funding and a stated ambition to capture 40% of the kingdom's e-grocery market by the end of 2026 [Google Cloud, 2024] [Zawya, 2026]. Founded in 2016 by Abdulmajeed Alsukhan and Sami Alhelwah, the company built its early footprint around hour-long grocery delivery and has since pushed toward a quick-commerce model with delivery windows reported as low as 20 minutes [MAGNiTT] [Tracxn]. Differentiation rests less on a novel technology layer and more on dark-store logistics, vendor depth across grocery categories, and proximity to a state-aligned investor base that includes Kingdom Holding and the Saudi Venture Capital Company [MEVP]. The cap table also features regional specialists MEVP, STV, Impact46, FIM Partners, Watar Partners, and Uni-Ventures, which together have written checks across at least three disclosed rounds, including a $133 million Series C led by Kingdom Holding in 2023 [Crunchbase]. The business model is consumer-facing and transactional: take rate on basket value, supplemented by an October 2024 acquisition of Egyptian fintech app Rasseed that hints at a payments and loyalty extension [Wamda, October 2024]. Over the next 12 to 18 months, the watch items are unit economics on sub-30-minute fulfillment, the integration arc of Rasseed, and whether Nana's Saudi market-share target translates into a defensible regional position before HungerStation, Jahez, and Mrsool tighten their grocery verticals.

Data Accuracy: GREEN -- Confirmed by Crunchbase, MAGNiTT, MEVP, Wamda, and Google Cloud customer page.

Taxonomy Snapshot

Axis Value
Stage Series C
Business Model B2C
Industry / Vertical E-commerce / Retail (Quick Commerce, Grocery)
Technology Type Software (Non-AI)
Geography Middle East / North Africa (primary: Saudi Arabia)
Growth Profile Venture Scale
Founding Team Co-Founders (2)
Funding $100M+ (~$208M total disclosed)

Company Overview

PUBLIC

Nana was founded in Riyadh in 2016 by Abdulmajeed Alsukhan and Sami Alhelwah, several years before quick commerce became a defined investment category in the Gulf [PitchBook] [Crunchbase]. The company began as a marketplace connecting Saudi consumers to supermarket and home-essentials inventory, with delivery promises initially set in the one-hour range, a meaningful improvement on the next-day or scheduled-window norm that prevailed in the local grocery sector at the time [MAGNiTT].

The COVID-19 period accelerated demand and provided the operating evidence that supported a sequence of larger rounds. Nana raised an $18 million Series B co-led by MEVP and STV, followed by a $50 million round in 2022 led by STV and a $133 million Series C in 2023 led by Kingdom Holding [MEVP] [Crunchbase]. According to the company's Google Cloud case study, Nana set a public goal of reaching a 40% share of the Saudi online grocery market by the end of 2026 [Google Cloud, 2024]. Coverage in Zawya and Trade Arabia in 2026 has continued to frame the company around that same target [Zawya, 2026] [Trade Arabia, 2026].

The most recent confirmed corporate action is the October 2024 acquisition of Rasseed, an Egyptian consumer fintech application, reported by Wamda [Wamda, October 2024]. The transaction value was not disclosed in the cited coverage, but the deal extends Nana's perimeter beyond grocery logistics into payments and consumer financial tooling, and represents the company's first publicly reported cross-border acquisition.

Data Accuracy: GREEN -- Confirmed by Crunchbase, PitchBook, MEVP, Wamda, and Google Cloud.

Product and Technology

MIXED

Nana's core product is a consumer mobile application and web storefront for grocery and home-essentials delivery across Saudi Arabia [Crunchbase] [PUBLIC]. Press coverage describes a quick-commerce model in which orders are fulfilled from a network of dark stores and partner retailers, with delivery times reported in two tiers: "as little as one hour" in older coverage and "20 minute delivery" in more recent material [MAGNiTT] [Tracxn] [PUBLIC]. Both delivery-window claims originate in part from company communications and should be treated as marketed service levels rather than independently audited medians.

The technology layer is, on the public record, a fairly conventional consumer-commerce stack rather than a model or AI-led differentiator. Nana is profiled as a Google Cloud customer, which suggests cloud-native infrastructure for catalog, order management, and routing workloads [Google Cloud, 2024] [PUBLIC]. Open roles on Lever in 2026 include a Senior Android Developer, an IT Help Desk role, and a Digital Marketing Manager, consistent with a mature consumer mobile product still investing in native client development and operational tooling rather than a heavy machine-learning research function (inferred from job postings) [Lever, 2026] [MIXED].

Product extension into financial services is the most interesting recent move. The Rasseed acquisition, reported by Wamda in October 2024, is a fintech app rather than a logistics asset, which points toward an embedded-payments or loyalty layer atop the grocery transaction [Wamda, October 2024] [PUBLIC]. The company has not publicly published a detailed integration roadmap, so the strategic shape of that combination remains a watch item rather than a confirmed feature set.

Data Accuracy: YELLOW -- Product surface confirmed by multiple sources; specific delivery-time medians and tech stack rely on a single source each.

Market Research and Opportunity

PUBLIC

Saudi Arabia's online grocery and delivery-app market matters now because of the rare combination of a young, mobile-native population, high disposable income concentration in Riyadh and Jeddah, and a national policy program (Vision 2030) that explicitly favors digital consumer infrastructure.

Mordor Intelligence sizes the broader Saudi delivery apps market and projects continued growth through 2031, framing it as one of the higher-growth verticals within the kingdom's consumer technology stack [Mordor Intelligence, 2026]. Nana's own framing, as reported by Zawya and Trade Arabia, is that it is targeting a 40% share of the Saudi online grocery segment by the end of 2026, a number repeated in the Google Cloud customer page [Google Cloud, 2024] [Zawya, 2026] [Trade Arabia, 2026]. That share target implicitly defines a serviceable market the company believes is large enough to anchor a venture-scale outcome on its own, before any consideration of expansion into Egypt or other GCC states.

Demand drivers cited across the secondary coverage include pandemic-accelerated adoption of grocery e-commerce, sustained dark-store buildouts by regional operators, and the fact that grocery in Saudi Arabia historically skewed toward physical hypermarkets, leaving substantial headroom for digital share gain [Google Cloud, 2024] [MENAbytes, 2026]. Adjacent and substitute markets include restaurant delivery (where HungerStation and Jahez are the dominant players), on-demand errands (Mrsool), and traditional supermarket chains running their own first-party apps. Regulatory tailwinds are largely structural rather than sector-specific: the Public Investment Fund and adjacent state vehicles have backed the broader e-commerce and logistics build-out, and Kingdom Holding's lead position in Nana's Series C signals investor alignment with that policy direction [Crunchbase].

Sizing claim Value Source
Nana target Saudi e-grocery share by end of 2026 40% [Google Cloud, 2024]
Saudi delivery apps market growth horizon Through 2031 (growth projected) [Mordor Intelligence, 2026]

Analyst takeaway: the cited sizing is directional rather than precise. The 40% market-share figure is a stated company ambition rather than an independently verified midpoint, and the Mordor projection covers the broader delivery-apps category rather than the grocery sub-segment specifically. Investors should treat both as framing inputs rather than underwriting numbers.

Data Accuracy: YELLOW -- Single named third-party report (Mordor) plus company-stated targets confirmed across three outlets.

Competitive Landscape

MIXED

Nana competes inside a Saudi delivery stack where the strongest players today are restaurant-led platforms expanding sideways into grocery, rather than grocery-native operators expanding into other verticals.

Company Positioning Stage / Funding Notable Differentiator Source
Nana Grocery-native quick commerce, Saudi-first Series C, ~$208M disclosed Dark-store grocery depth, Kingdom Holding alignment, Rasseed fintech tuck-in [Crunchbase] [Wamda, October 2024]
HungerStation Restaurant-led delivery, expanding into grocery and retail Owned by Delivery Hero Pan-category delivery, parent-company logistics scale [PUBLIC]
Jahez Saudi-native restaurant delivery, listed on Tadawul Public (Tadawul: 6011) Domestic public-market access, profitable restaurant marketplace [PUBLIC]
Mrsool On-demand errand and delivery marketplace Late-stage private Open-ended request model rather than fixed catalog [PUBLIC]

The segment-by-segment map is straightforward. In restaurant delivery, HungerStation and Jahez are the incumbents, with Mrsool playing a more open-ended errand-style role. In grocery specifically, the competitive set splits between vertical specialists like Nana and grocery features inside horizontal apps; first-party supermarket apps from chains such as Panda and Lulu remain a substitute for many households. The challenger-versus-incumbent line in grocery is genuinely contested, which is what makes the 40% share target meaningful as a stake in the ground [Google Cloud, 2024].

Nana's defensible edge today rests on three things that are visible in the public record: a grocery-first operating model with dark-store infrastructure rather than restaurant-style courier networks, a cap table that includes Kingdom Holding and the Saudi Venture Capital Company (helpful for navigating regulatory and supplier relationships), and capital depth at roughly $208 million disclosed, which is meaningful relative to most regional consumer-tech peers [Crunchbase] [MEVP]. The durability of that edge depends on whether grocery economics genuinely require specialization. If basket sizes, refrigeration, and SKU breadth keep horizontal apps at a structural disadvantage, the moat compounds. If, instead, Delivery Hero's global playbook lets HungerStation match Nana's grocery service levels at marginal cost, the edge is more perishable.

The most acute exposure is on the restaurant-delivery side, which Nana does not own and where HungerStation and Jahez have years of frequency data, courier density, and brand habit. A horizontally bundled subscription (delivery, restaurants, grocery) from either competitor would compress Nana's standalone value proposition. The 18-month scenario worth watching is binary: Nana wins if its Rasseed-enabled payments and loyalty stack lifts grocery basket frequency and lock-in faster than HungerStation can build true grocery depth; Nana loses ground if Delivery Hero invests aggressively in dark-store grocery in Riyadh and Jeddah and uses cross-category economics to underprice standalone grocery delivery.

Data Accuracy: YELLOW -- Competitor identities confirmed in structured facts; relative positioning is analyst synthesis.

Opportunity

PUBLIC

If Nana executes against its public targets, the prize is the default consumer commerce rail for Saudi grocery and a credible launch point for an MENA-wide consumer fintech and loyalty layer.

The headline opportunity. The single largest plausible outcome is that Nana becomes the category-defining online grocery operator in Saudi Arabia and the anchor consumer-commerce brand for a Kingdom Holding-aligned digital portfolio. Its own stated ambition, repeatedly cited, is 40% Saudi e-grocery share by the end of 2026 [Google Cloud, 2024] [Zawya, 2026]. The ambition is reachable rather than purely aspirational because three structural conditions already favor it: meaningful capital ($208 million disclosed), a strategic investor base that includes Kingdom Holding and the Saudi Venture Capital Company, and a policy environment under Vision 2030 that supports domestic digital champions in consumer infrastructure [Crunchbase] [MEVP]. Whether the 40% number is precisely achieved is less important than the directional reality that Nana has the capital and political alignment to attempt it.

Growth scenarios.

Scenario What happens Catalyst Why it's plausible
Saudi grocery default Nana reaches its stated 40% share of Saudi e-grocery by 2026 and becomes the household-default app Continued dark-store rollout plus loyalty bundle from Rasseed integration Company has restated the target across multiple 2026 outlets and has the capital to fund density [Google Cloud, 2024] [Zawya, 2026]
MENA fintech-on-grocery Rasseed becomes a regional consumer wallet seeded by Nana's Saudi customer base, then expands to Egypt Rasseed integration into Nana checkout; Egypt cross-border launch The Rasseed acquisition is already closed and explicitly cross-border [Wamda, October 2024]
Strategic exit to a Saudi or global parent Nana is acquired by, or merged into, a larger PIF-aligned commerce platform or a global delivery group Tadawul listing window opens or Delivery Hero / Amazon revisits MENA M&A Kingdom Holding's lead position in the Series C creates a clear strategic owner pathway [Crunchbase]

What compounding looks like. The flywheel is grocery frequency feeding payments data feeding loyalty economics. Grocery is one of the highest-frequency consumer purchase categories, which makes it an unusually good top-of-funnel for a wallet product. The Rasseed acquisition is the first visible piece of evidence that management intends to build that loop rather than stay a pure logistics operator [Wamda, October 2024]. As basket frequency rises, Nana's per-order fulfillment cost should fall (denser routes, better forecasting, longer-lived dark stores), and as wallet share rises, the take rate per customer expands beyond grocery margin.

The size of the win. A credible reference point is the broader Saudi delivery-apps market that Mordor Intelligence projects to grow through 2031 [Mordor Intelligence, 2026]. If Nana captures even a meaningful minority of online grocery in Saudi Arabia, the business sits inside one of the most strategically valuable consumer categories in the region. Public peers in restaurant delivery (notably Jahez on Tadawul) demonstrate that the Saudi market will assign real public-market multiples to category-leading delivery operators, which makes a domestic listing a tangible rather than theoretical exit path (scenario, not a forecast).

Data Accuracy: YELLOW -- Scenarios are analyst constructions anchored on confirmed funding, acquisition, and stated-share data points.

Sources

PUBLIC

  1. [Crunchbase] Nana - Crunchbase Company Profile & Funding | https://www.crunchbase.com/organization/nana-direct

  2. [MAGNiTT] Nana Company and Investment Profile | https://magnitt.com/startups/nana-direct-2720

  3. [Tracxn] Nana - 2025 Company Profile, Team, Funding & Competitors | https://tracxn.com/d/companies/nana/__XtUvUSo7cjZ3HRScXS5OsTF3FBvW_pFhjKgtG0OxuoA

  4. [Wamda, October 2024] Saudi q-commerce Nana acquires Rasseed app | https://www.wamda.com/2024/10/saudi-q-commerce-nana-acquires-egyptian-fintech-raseedi

  5. [MEVP] Saudi Arabia's leading online grocery platform Nana raises USD 18M Series B co-led by MEVP and STV | https://www.mevp.com/news/saudi-arabias-leading-online-grocery-platform-nana-naanaa-raises-usd-18m-in-series-b-financing-co-led-by-mevp-and-stv

  6. [MEVP] Nana - MEVP portfolio page | https://www.mevp.com/portfolio/nana

  7. [Google Cloud, 2024] Nana customer case study | https://cloud.google.com/customers/nana

  8. [PitchBook] Nana 2025 Company Profile: Valuation, Funding & Investors | https://pitchbook.com/profiles/company/267773-14

  9. [Mordor Intelligence, 2026] Saudi Arabia Delivery Apps Market Size & Growth to 2031 | https://www.mordorintelligence.com/industry-reports/saudi-arabia-delivery-apps-market

  10. [Zawya, 2026] Grocery delivery platform Nana eyes 40% Saudi market share | https://www.zawya.com/en/business/retail-and-consumer/grocery-delivery-platform-nana-eyes-40-saudi-market-share-pe1lczir

  11. [Trade Arabia, 2026] Grocery delivery platform Nana eyes 40% Saudi market share | https://www.tradearabia.com/news/MISC_394970.html

  12. [Zawya, 2026] Saudi Arabia's leading online grocery platform Nana raises USD 18mm Series B | https://www.zawya.com/en/press-release/saudi-arabias-leading-online-grocery-platform-nana-raises-usd-18mm-in-series-b-financing-co-led-by-mevp-and-tjngfaff

  13. [MENAbytes, 2026] Saudi's Nana raises $18 million Series B for its online grocery marketplace | https://www.menabytes.com/nana-18-million/

  14. [MAGNiTT, 2026] Saudi Arabia's Online Grocery Platform Nana Raises $18M in Series B Funding | https://magnitt.com/news/saudi-arabia-leading-online-grocery-platform-nana-raises-usd18m-in-series-b-funding-51675

  15. [Lever, 2026] Nana - Digital Marketing Manager | https://jobs.lever.co/nana/42a2bc18-7933-4fd6-b1b6-e416c77f77ab/apply

  16. [Lever, 2026] Nana - IT Help Desk | https://jobs.lever.co/nana/49bc9591-b739-4faf-9e62-f2de3e823a31

  17. [Lever, 2026] Nana - Senior Android Developer | https://jobs.lever.co/nana/69a99b0d-b233-44ea-8216-5c2c445310bd/apply

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