Jahez International Company for Information System Technology (Tadawul: 9526) has secured a $40 million (SAR 150 million) Shariah-compliant credit facility from the National Bank of Bahrain (NBB) to fund capital expenditures for its new headquarters. The eight-year facility was finalised on August 18, 2025.
Founded in 2016, Jahez operates one of Saudi Arabia’s leading food delivery and q-commerce platforms, with additional operations in Bahrain and Kuwait. Its platform spans restaurant ordering, last-mile logistics, digital solutions, and cloud kitchens.
The announcement came alongside weaker second-quarter results. Net profit fell 22% year-on-year to SAR 23.6 million ($6.29 million), compared with SAR 30.2 million ($8.05 million) a year earlier, due to lower adjusted EBITDA and higher depreciation costs. Revenue growth and order volumes remained supportive, but gross margins eased.
Shares of Jahez traded down 0.81% on August 19 to SAR 23.16 following the earnings release.
The financing and Q2 update follow Jahez’s July 9 announcement that it is acquiring a 76.56% stake in Qatar’s Snoonu, the country’s leading e-commerce and delivery platform, in a $245 million cash-and-share transaction. The deal, which values Snoonu at $320 million, marks one of the largest private startup M&A transactions in the Gulf and gives Jahez a foothold in the Qatari market. Snoonu will continue to operate under its own brand, with founder Hamad Al-Hajri retaining a 23.44% stake and remaining CEO.
