Jahez International Company for Information Systems Technology (Jahez) has obtained a USD 40 million (SAR 150 million) Sharia-compliant credit facility from the National Bank of Bahrain (NBB), marking a significant step in strengthening its financial position and regional growth strategy.
The financing deal, signed on August 18, 2025, carries a tenure of eight years and will be used primarily to fund capital expenditures for the company’s new headquarters.
Founded in 2016, the company has grown into one of the Gulf’s leading digital platforms, offering online food delivery, q-commerce, last-mile logistics, digital solutions, and cloud kitchens.
Operating across Saudi Arabia, Bahrain, and Kuwait, the company continues to expand despite facing near-term profitability challenges.
On August 19, 2025, the share price dipped 0.81% to SAR 23.16, reflecting investor concerns after the company reported a 22% year-on-year drop in Q2 net profit.
Profits fell to SAR 23.6 million (USD 6.29 million) from SAR 30.2 million (USD 8.05 million) in the same quarter last year, a decline attributed to lower adjusted EBITDA and higher depreciation costs.
Jahez Strategic Acquisitions Drive Expansion
The new credit facility comes on the heels of Jahez’s USD 245 million acquisition of a controlling 76.56% stake in Qatari on-demand delivery firm Snoonu.
The transaction included the purchase of 8.1 million shares for USD 225 million, settled through a mix of cash and shares. In addition, Jahez subscribed to 724,000 newly issued Snoonu shares for USD 20 million, bringing the total investment to USD 245 million.
This strategic acquisition strengthens the regional footprint, positioning it to capture growth opportunities in Qatar’s fast-growing delivery market while reinforcing its leadership across the GCC.
“With this financing and our Snoonu acquisition, Jahez is doubling down on building a regional ecosystem that connects restaurants, fleets, and customers through innovative digital solutions,” the company said in a statement.
