Food Delivery Giant Jahez Secures $40M, Reports Profit Decline

Ghassab Bin Salman Bin Ghassab Bin Mandeel, Jahez CEO

Jahez International Company for Information Systems Technology has secured a Shariah-compliant credit facility worth $40 million (SAR 150 million) from the National Bank of Bahrain. The facility, obtained on August 18, 2025, carries an eight-year duration and will be used to finance capital expenditures for the company’s new headquarters.

Founded in 2016, Jahez operates as an online food delivery and on-demand services platform, connecting restaurants, logistics providers, and customers. Beyond food delivery, it offers q-commerce, last-mile delivery, digital solutions, and cloud kitchens across Saudi Arabia, Bahrain, and Kuwait.

Alongside the financing announcement, Jahez reported a 22% decline in Q2 2025 net profit, recording SAR 23.6 million ($6.29 million) compared to SAR 30.2 million ($8.05 million) in Q2 2024. The company attributed the drop to weaker adjusted EBITDA and higher depreciation expenses. Its shares closed 0.81% lower at SAR 23.16 on August 19, 2025.

The financing and results follow Jahez’s recent acquisition of a 76.56% stake in Qatari on-demand delivery company Snoonu in a $245 million transaction. The deal included the purchase of 75% of Snoonu’s share capital for $225 million, settled through a mix of cash and Jahez shares, along with a $20 million subscription for newly issued shares representing 1.56% of the company. The acquisition expands Jahez’s regional footprint and strengthens its position in the GCC’s fast-growing on-demand delivery market.

---

Send us your press releases to [email protected]