Jahez secures $40 million Sharia-compliant credit facility from National Bank of Bahrain

Saudi Arabia’s Jahez International Company for Information System Technology (Jahez) has secured a 150 million riyals ($40 million) Sharia-compliant credit facility from the National Bank of Bahrain. The facility, structured over an eight-year term, will be used to finance the company’s capital expenditures, including its headquarters operations.

Founded in 2016, Jahez operates a digital platform offering food delivery, on-demand services, quick commerce, last-mile delivery solutions, cloud kitchens, and digital services across Saudi Arabia, Bahrain, and Kuwait.

This financing milestone follows Jahez’s recent acquisition of a 76.56% stake in Qatar-based Snoonu, a leading on-demand delivery company, in a deal valued at $245 million. The transaction underlines Jahez’s continued regional expansion strategy and commitment to enhancing its operational and technological capabilities.