Riyadh – Mubasher: The CEO of the Saudi food delivery platform Jahez, Ghassab Al Mandil, announced the conclusion of a Series A funding round led by Impact46 at a value of SAR 137 million.
The round marks the largest-ever venture capital (VC) investment deal in Saudi Arabia, Jahez disclosed on Wednesday.
The investment will contribute to improving the experiment of three million clients, paving the way for the startup to exceed order values worth more than SAR 1 billion during 2020 sourced from over 12,000 points of sales (POS).
Jahez was founded in 2016 and currently has a team of 180 employees spread across Riyadh, Jeddah, Dammam, along with 19 other cities. Around 90% of the team is Saudi staff.
Like other delivery companies, Jahez's business grew over the past period as it processed over 20 million orders for leading household brands.