Riyadh – Mubasher: Jahez International Company for Information System Technology has signed a share purchase and subscription agreement (SPSA) to acquire a 76.56% stake in Snoonu, Qatar’s fastest-growing technology and on-demand delivery company.

The transaction includes $225 million for 8.14 million existing shares (75%) and a $20 million capital injection for 723,960 newly issued shares, representing an additional equity of 1.56%, according to a press release.

This stake acquisition marks Jahez’s official entry into the Qatari market and reinforces its expansion across the GCC region. It also empowers Snoonu’s growth via deeper product innovation and shared technology capabilities.

Upon completion of the deal, Jahez will own 76.56% of Snoonu’s share capital. Meanwhile, Founder and CEO Hamad Mubarak Al Hajri will own the remaining 23.44%.

Subject to approvals from the relevant authorities and customary closing conditions, the transaction is expected to be concluded in the second half (H2) of 2025.

This deal placed a QAR 1.16 billion ($320 million) valuation on Snoonu, making it Qatar’s first-ever start-up to surpass the QAR 1 billion valuation milestone. The valuation includes a $20 million capital injection by Jahez that will support Snoonu’s expansion and enhance its innovation capabilities across its platforms.

Jahez and Snoonu will join efforts to achieve their vision of building a diversified ecosystem and technology platforms that open the door to a dynamic and high-potential market.

The transaction will leverage logistics, e-commerce, customer service and technology expertise across Jahez and Snoonu to unlock operational and technological synergies that will strengthen the Group’s position as a leading delivery, e-commerce, and logistics provider in the region, while maintaining profitability.

Mishal bin Sultan bin Abdulaziz Al Saud, Chairman of Jahez, said:“This partnership represents a meaningful step toward realizing our collective long-term vision of shaping the future of tech and commerce in the region. By bringing together two homegrown tech leaders, we are reinforcing our commitment to innovation and regional collaboration, while supporting the next phase of digital growth for the region.”

Ghassab Al Mandeel, CEO of Jahez, affirmed that the joint deal represents  a win-win for all stakeholders as we expand our presence in the region.

“Snoonu’s impressive growth journey will be further fueled by Jahez’s infrastructure and scale, while we gain access to Snoonu’s cutting-edge product engine, talent, and high-performance platform across its portfolio,” Al Mandeel mentioned.

He elaborated: “Together, we will unlock new opportunities for customers and merchants, cementing our position as the region’s trusted on-demand platform and continuing to deliver shareholder value.”

Hamad Al Hajri, Founder and CEO of Snoonu, indicated: “By joining forces, we are combining complementary strengths and deep market knowledge to set new benchmarks in the GCC’s digital economy.”