Nice One
IPOOnline beauty, cosmetics, and personal-care e-commerce platform (28,000+ SKUs) serving the Saudi and wider GCC market.
Nice One (Nice One Beauty Digital Marketing Company) is a Riyadh-based online beauty and cosmetics retailer founded in 2017 by brothers Omar and Abdulrahman AlOlayan, who started by selling perfume via an Instagram account before opening a shop in Buraidah and later headquartering in Riyadh's Al Malqa district. In January 2025 it became the first unicorn tech company to list on the Main Market of the Saudi Exchange (Tadawul: 4193), a ~$322M IPO priced at SAR 35/share that was oversubscribed roughly 139x institutionally.
Founders
Funding Rounds
Lead: Al Rajhi Bank
Investors: Al Rajhi Bank
SAR 93,434,000 facilities package (incl. SAR 70M term-sale line, 6-month tenor), secured by shareholder personal guarantees. Converted at 3.75. Working-capital facilities. Confidence: confirmed (round 13, Nice One / Saudi Capital Market Authority).
Lead: Saudi Awwal Bank
Investors: Saudi Awwal Bank
SAR 35,000,000 revolving import-finance (Murabaha/Tawarruq) facility, one-year tenor; SAR 12.97M drawn at prospectus date. Converted at 3.75. Working-capital trade finance, not growth debt. Confidence: confirmed (round 13, Nice One / Saudi Capital Market Authority).
Lead: Namara Investments Company
Investors: Namara Investments Company (via Wajhat AlHamra for Investment Company)
Never publicly announced; reconstructed from the IPO prospectus. On 14 June 2021 capital rose from SAR 1,000,000 to SAR 1,063,000 (63 new shares) as Wajhat AlHamra (Namara Investments) joined, and the AlOlayan founders sold it 180 shares 'for an agreed-upon cash compensation' — 22.86% in total (prospectus milestone). The 2021 cash-flow statement records an 'additional contribution to capital' of SAR 27,136,000, i.e. the premium paid on the new shares; amount here = SAR 27,136,000 + SAR 63,000 nominal = SAR 27,199,000 / 3.75 = $7.25M (primary only). Secondary consideration undisclosed. Namara added 11 shares (Oct 2022) and 12 shares (Aug 2023) from a founder at undisclosed prices — small top-ups, not listed separately. Also: https://cma.gov.sa/en/Market/Prospectuses/Documents/Nice_One_Supplementary_Prospectus_Eng.pdf Confidence: confirmed (round 13, Nice One / Saudi Capital Market Authority).
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