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- Nana
Nana Funding, Investors & Competitors
Nana has raised $212M across 6 funding rounds, most recently a $133M Series C in February 2023.
Last Nana funding round
$133M
Series C · Feb 2023
Cumulative funding Nana raised
$212M
across 6 funding rounds
Key investors in Nana
Middle East Venture Partners (MEVP)
Impact46
Wamda Capital
STV
Saudi Venture Capital
Watar Partners
Faith Capital
Jahez International Company
About Nana
Nana is a Riyadh-headquartered online grocery platform serving Saudi Arabia with rapid doorstep delivery. Shoppers access more than 20,000 stock-keeping units encompassing fresh fruits, vegetables, bakery products, cosmetics, electronics, and flowers through its mobile app and website. The service covers major cities including Jeddah, Dammam, and Medina, emphasizing same-day fulfillment for household essentials. Launched in 2020, Nana partners with local suppliers and supermarkets to maintain inventory freshness and competitive pricing in the Kingdom's e-commerce market.
Founded
2016
HQ
Website
Status
Privately held
Customer focus
B2C
Revenue model
Product sales
Nana Funding History
Nana has raised a total of $212M across 6 funding rounds.
Nana's first fundraising round was a $2M seed round in May 2016. The most recent completed round was a $133M Series C in February 2023.
Nana funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Feb 2023 | Series C | Kingdom Holding (lead); Uni-Ventures (lead); Al-Jasser Holding; AlJammaz Group; Dallah Albaraka Holding; Red Diamond Foodservice; Sultan Holdings | $133M | Nana is a Saudi Arabia-based e-grocery delivery platform founded in 2016 by Abdulmajeed Alsukhan and Sami Alhelwah, operating a dark store model that delivers groceries within 15 minutes to fulfill daily, weekly, and monthly household needs across more than 18 cities in the Kingdom with over 22,000 products. The company raised 500 million SAR ($133 million) in a Series C funding round on February 7, 2023, led by Kingdom Holding Company and Uni-Ventures, with participation from Al-Jasser Holding, AlJammaz Group, Dallah Albaraka Holding, Red Diamond Foodservice, Sultan Holdings, and others. This marked one of the largest investment rounds for Saudi startups, bringing Nana's total funding to approximately $212 million including prior rounds like a $18 million raise. The funds are earmarked for regional expansion, diversifying services, and strengthening Nana's leadership in the digital grocery sector amid a market estimated at over $165 billion. CEO Sami Alhelwah highlighted the round's role in motivating growth and providing diversified stakeholder services, while Kingdom Holding's CEO Talal Al-Maiman emphasized supporting Nana's regional dominance and portfolio diversification. Uni-Ventures' CEO Nayef Aljebreen praised Nana's modern technologies and expansion potential in the Saudi and GCC markets. Nana has achieved significant traction, fulfilling over 10 million orders and registering 10 million downloads since launch, establishing a closed-shop model in Saudi Arabia. The investment aligns with Saudi Arabia's entrepreneurship ecosystem, with strategic investors like Kingdom Holding—controlled by Prince Alwaleed bin Talal—backing bold ventures in promising sectors. |
| Feb 2022 | Series B | FIM Partners (lead); STV (lead); Faith Capital; Sunbulah Group; Impact46; Jahez International Company; Quencia Capital; Middle East Venture Partners (MEVP) | $50M | Nana is a Saudi Arabia-based e-commerce startup providing on-demand grocery delivery, aiming to deliver to doorsteps within 15 minutes, leveraging partnerships like Google Cloud. It operates with a fleet serving retailers and focuses on strengthening its presence in the Saudi market. In February 2022, Nana raised $50 million in a funding round co-led by FIM Partners and STV, with participation from Jahez International Company, Sunbulah Group, Quencia Capital, Faith Capital, Impact46, and Middle East Venture Partners (MEVP), bringing its total funding to $80 million. The funding supported expansion in Saudi Arabia amid robust investor interest in e-commerce, which accounted for significant deal volume in the region. Nana's competitive context includes other quick-commerce and delivery players like Breadfast and Snoonu, operating in a growing MENA tech ecosystem highlighted at events like LEAP22, where the round's closure was announced alongside over $266 million in startup investments. |
| Mar 2020 | Series B | STV (lead); Saudi Venture Capital; Impact46; Wamda Capital; Watar Partners; Middle East Venture Partners (MEVP) | $18M | Nana is a Riyadh-based online grocery and commodities delivery platform founded in 2016 by Sami Alhelwah. The company operates as a marketplace connecting consumers with retail partners including major chains like Carrefour, Panda, and Spar across 14 Saudi cities. In March 2020, Nana announced an $18 million Series B funding round co-led by Saudi Technology Ventures (STV) and Middle East Venture Partners (MEVP), with participation from existing investors Watar Partners, Saudi Venture Capital Company (SVC), Wamda Capital, and Impact46. The company was experiencing significant traction during the COVID-19 pandemic, having tripled its operational capacity in 10 days as demand for grocery delivery surged due to lockdown measures and social distancing requirements. Nana's founders stated the capital would be deployed toward expanding operations within Saudi Arabia and the wider GCC region, improving customer experience, and developing technology solutions to support partner retailers. The startup had demonstrated strong momentum with turnover tripling year-over-year in 2019 and expansion to multiple major retail partnerships, positioning itself as the market leader in Saudi Arabia's online grocery segment at the time of the funding. |
| Feb 2019 | Series A | Impact46 (lead); Middle East Venture Partners (MEVP) (lead); Saudi Venture Capital; Wamda Capital; Watar Partners | $7M | Nana is a Saudi Arabia-based e-grocery platform founded in 2016 that fulfills online grocery orders, operating in multiple cities across the Kingdom with in-house technology for integrations with stores and supermarkets. The company raised a $6.6 million Series A round in 2019, co-led by Impact46 and Middle East Venture Partners (MEVP), with participation from Watar Partners, Wamda Capital, and Saudi Venture Capital (SVC). The funds were intended to drive growth, expansion to more cities, improve customer service, marketing, hiring, and last-mile logistics. Prior to this round, Nana had raised $2.1 million in a seed round in 2016 and $2.2 million in a convertible note in 2017, bringing total funding to $10.4 million at that point. The platform reported 3X growth in turnover in the year leading up to the Series A, with plans to exceed that in 2019. |
| Apr 2017 | Seed | - | $2M | - |
| May 2016 | Seed | - | $2M | - |
Who has invested in Nana?
18 investors have backed Nana across its funding rounds, including Middle East Venture Partners (MEVP), Impact46, Wamda Capital, STV, Saudi Venture Capital and Watar Partners.
Lead investors include Kingdom Holding, Uni-Ventures, FIM Partners, STV, Impact46 and 1 other investor.
Nana Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 3 | Lead | Feb 2019 | ||
| 3 | Lead | Feb 2019 | ||
| 2 | Participant | Feb 2019 | ||
| 2 | Participant | Feb 2019 | ||
| 2 | Participant | Feb 2019 | ||
| 2 | Lead | Mar 2020 | ||
| 1 | Participant | Feb 2023 | ||
| 1 | Participant | Feb 2023 | ||
| 1 | Participant | Feb 2022 | ||
| 1 | Participant | Feb 2023 | ||
| 1 | Participant | Feb 2022 | ||
| 1 | Participant | Feb 2023 | ||
| 1 | Participant | Feb 2022 | ||
This data is available for Pro users. Sign up to see all 18 Nana investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialAcquisitions by Nana
Nana has acquired 1 company to date.
Last acquisition by Nana was on October 8th 2024. Nana acquired Rasseed for undisclosed valuation.
Latest Acquisitions by Nana
| Description | Rasseed is a digital gift card platform headquartered in Singapore that enables users to purchase, send, store, and redeem vouchers from over 200 brands. Available in Southeast Asia, it supports instant delivery via email, SMS, or WhatsApp, with features for bulk gifting and corporate rewards. The platform integrates with payment gateways like Stripe and PayPal, catering to e-commerce businesses, events, and employee incentives. Launched in 2021, Rasseed processes transactions across Indonesia, Malaysia, Thailand, and the Philippines. |
| HQ Country | |
| HQ City | Riyadh |
| Deal Date | 8 Oct 2024 |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all Nana acquisitions and their M&A valuation multiples. Start Free Trial | |
Nana Competitors
Nana competitors include listed companies like Uber, Prosus, DoorDash and Meituan, and private ones like Gopuff and Kitopi.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | $1B | - | $8.5B | - | ||
| Private | - | - | $1.6B | - | ||
| Publicly listed | $52B | $6.2B | $145B | 2.8x | ||
| Publicly listed | $9.7B | $1.1B | $86B | 8.0x | ||
| Publicly listed | $14B | $1.5B | $84B | 4.9x | ||
| Publicly listed | $54B | ($2.2B) | $57B | 0.8x |
Nana Public Comps
Nana is still privately-owned, but its public comps include Meta, Recruit Holdings, Uber, Booking Holdings, Airbnb, Prosus, DoorDash, Carvana, Meituan and Rocket Companies.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $201B | $104B | 8.8x | 7.4x | 17.0x | 12.7x | |||
| $24B | $4B | 6.4x | 6.0x | 37.9x | 25.2x | |||
| $52B | $6.2B | 3.0x | 2.8x | 24.9x | 14.6x | |||
| $27B | $8.3B | 4.9x | 4.6x | 15.9x | 12.4x | |||
| $12B | $2.4B | 7.2x | 6.5x | 36.3x | 18.2x | |||
| $9.7B | $1.1B | 9.1x | 8.0x | 83.8x | 123.7x | |||
| $14B | $1.5B | 6.0x | 4.9x | 55.8x | 23.7x | |||
| $20B | ($110M) | 3.7x | 2.9x | (691.4x) | 27.7x | |||
This data is available for Pro users. Sign up to see all Nana competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Nana
| When was Nana founded? | Nana was founded in 2016. |
| Where is Nana headquartered? | Nana is headquartered in Riyadh, Saudi Arabia. |
| Is Nana publicly listed? | No, Nana is a private, VC-backed company. |
| How much funding has Nana raised? | Nana has raised $212M across 6 funding rounds. |
| What was Nana's last funding round? | Nana's last funding round was a $133M Series C in February 2023, led by Kingdom Holding and Uni-Ventures. |
| Who are Nana's investors? | Nana's investors include Impact46, Middle East Venture Partners (MEVP), Saudi Venture Capital, Wamda Capital, Watar Partners, STV, Al-Jasser Holding, AlJammaz Group, Faith Capital, Dallah Albaraka Holding and 8 others. |
| Which companies are comparable to Nana? | Companies comparable to Nana include Gopuff, Kitopi, Uber, Prosus, DoorDash and Meituan. |
| How many companies has Nana acquired? | Nana has acquired 1 company, including Rasseed. |
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