Riyadh – Jahez International Company for International Systems Technology (Jahez) has secured a Shariah-compliant credit facility worth USD 40 million (SAR 150 million) from the National Bank of Bahrain (NBB). Finalized on August 18, 2025, the facility has an eight-year term and will fund capital expenditures for Jahez’s new headquarters.
Founded in 2016, Jahez operates as a leading on-demand delivery platform, integrating restaurants, logistics fleets, and customers through its app. Its services extend beyond food delivery to include q-commerce, last-mile delivery, digital solutions, and cloud kitchens across Saudi Arabia, Bahrain, and Kuwait.
Despite this financing milestone, Jahez reported a 22% year-on-year drop in Q2 2025 net profit, down to USD 6.29 million (SAR 23.6 million) compared to USD 8.05 million (SAR 30.2 million) in Q2 2024. The decline was attributed to weaker adjusted EBITDA and increased depreciation expenses. On August 19, 2025, its share price slipped 0.81% to SAR 23.16.
The developments follow Jahez’s recent acquisition of a 76.56% stake in Qatari on-demand delivery platform Snoonu in a USD 245 million deal. The transaction includes the purchase of 75% of Snoonu’s share capital for USD 225 million—paid in a mix of cash and shares—alongside an additional USD 20 million investment for a 1.56% stake through newly issued shares.
The acquisition expands Jahez’s regional footprint and strengthens its presence in the fast-growing Gulf on-demand delivery market.
