Saudi Arabia-based delivery platform Mr Mandoob has announced plans to list on the Saudi stock exchange during the first half of 2026. The strategic move comes as the company reports a market valuation exceeding SAR 800 million ($213 million), according to statements made by CEO Obaid Al-Anzi. This announcement highlights the rapid maturation of the Kingdom’s logistics sector and the increasing viability of local startups transitioning to public markets.
Rapid Growth From Bootstrapping To Major Funding
The road to the potential IPO reflects a swift trajectory for the Riyadh-based company. Launched just four years ago with limited self-funding, Mr Mandoob has successfully navigated the venture capital landscape to raise SAR 85 million across various investment rounds. This infusion of capital has been instrumental in scaling the company’s operations and cementing its position in a highly competitive market, allowing it to pivot from a bootstrap model to a major player in the Saudi digital economy.
Operational Scaling And Regulatory Compliance
As part of its pre-listing roadmap, Mr Mandoob is currently coordinating with regulatory authorities to finalize the necessary requirements for the initial public offering. Simultaneously, the management team is focused on expanding strategic partnerships and upgrading its technological infrastructure. These technical enhancements are critical to supporting a massive and growing user base, which has now surpassed 14 million users, necessitating robust systems to maintain service quality and operational efficiency.
Navigating A Competitive Logistics Landscape
The decision to go public aligns with a broader expansion of the delivery market within the Kingdom, where Small and Medium Enterprises (SMEs) now constitute approximately 30% of listed companies. CEO Obaid Al-Anzi noted that the sector is witnessing dynamic shifts, including the entry of global players and increased merger and acquisition activity among national companies. He emphasized that while the market faces challenges such as intense competition and aggressive pricing policies—which have forced some competitors to exit—consolidation and foreign entry are ultimately expected to enhance sector standards and competitiveness.
About Mr Mandoob
Mr Mandoob is a Saudi Arabian delivery and logistics platform that connects customers with couriers for on-demand delivery services. Established with the aim of revolutionizing the last-mile delivery experience in the Kingdom, the app serves millions of users by offering a seamless interface for ordering and tracking deliveries. The company has grown into a significant entity in the Saudi tech ecosystem, focusing on digital innovation to solve logistical challenges.
Source: Jawlah
