KSA-Based Jahez Secures US$40 Million Facility From The National Bank of Bahrain
The funds will be directed toward capital expenditures for Jahez’s new headquarters, supporting the company’s expansion plans and operational growth across its core markets.
Saudi Arabia-based Jahez has obtained a Shariah-compliant credit facility worth US$40 million from the National Bank of Bahrain (NBB) to finance its new headquarters. The facility, signed on August 18, 2025, spans eight years.
Founded in 2016, Jahez is an online food delivery and on-demand services platform, connecting restaurants, logistics providers, and customers. Its services extend beyond food delivery to include q-commerce, last-mile logistics, digital solutions, and cloud kitchens across Saudi Arabia, Bahrain, and Kuwait.
The facility follows Jahez’s recent acquisition of a 76.56 percent stake in Qatari on-demand delivery company Snoonu in a $245 million transaction. The deal included the purchase of 75 percent of Snoonu’s share capital for $225 million, settled through a mix of cash and Jahez shares, alongside a $20 million subscription for newly issued shares representing 1.56 percent of the company.
The financing announcement comes as Jahez reported a 22 percent year-on-year decline in net profit for the second quarter of 2025, posting SAR23.6 million ($6.29 million) compared to SAR30.2 million ($8.05 million) a year earlier. The company attributed the decline to weaker adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) as well as higher depreciation costs.
