Homegrown tech champion Snoonu has joined forces with Saudi-based Jahez Group in a groundbreaking strategic agreement, setting the stage for a transformative journey in the Gulf’s digital landscape.
The deal has placed a QR1bn valuation on Snoonu, making it not only the fastest-growing technology company in the country but the first Qatari tech startup to cross this milestone, supporting Snoonu’s path to becoming Qatar’s first unicorn and establishing one of the most dynamic technology powerhouses in the GCC.
The transaction represents a strong vote of confidence in Snoonu’s growth trajectory and will support the company in regional expansion and enhance innovation across its platforms.
Snoonu founder and CEO Hamad al-Hajri said, “This transformative partnership with Jahez marks a defining moment in Snoonu’s journey. Together, we are creating a true regional technology champion built on shared values and a common vision for innovation, excellence, and sustainable growth. By joining forces, we are combining complementary strengths and deep market knowledge to set new benchmarks in the GCC’s digital economy.
“This partnership also reaffirms our unwavering commitment to Qatar, a thriving and dynamic market with immense potential, and supports Snoonu’s continued growth journey. Together, we will continue driving technological advancement, creating meaningful value to our users and merchants, and delivering exceptional experiences at scale.”
Key highlights of the partnership include empowering local innovation. The initiative accelerates Snoonu’s mission to deliver cutting-edge solutions, fostering local talent and attracting bright minds from around the world to contribute to Qatar’s growing tech ecosystem.
It is also anticipated to boost Qatar’s digital economy. The investment signifies a robust vote of confidence in Qatar’s digital infrastructure and its potential to lead in the tech arena.
Combining Snoonu’s dynamic approach with Jahez’s extensive experience creates a powerhouse poised to redefine the digital experience across the GCC, thus promoting regional synergy.
Prince Mishal bin Sultan bin Abdulaziz al-Saud, chairman of Jahez, said: “We formed Jahez as a trailblazer in the Saudi startup space and are proud to now partner with one of Qatar’s standout success stories. This partnership represents a meaningful step toward realising 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.”
Engineer Ghassab al-Mandeel, CEO of Jahez, said: “This partnership is 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.
“Our companies share the same entrepreneurial DNA and, most importantly, have a proven ability to grow profitably in a competitive sector. 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.”
Abdulrahman bin Hesham al-Sowaidi, CEO of Qatar Development Bank (QDB), said: “We commend Snoonu on this extraordinary and first-of-its-kind achievement among Qatar’s emerging companies, a milestone that paves the way for the Qatari private sector to assert its presence across regional and global markets.”
Through the landmark deal, al-Sowaidi stressed that Snoonu emerges as a national benchmark of excellence, reflecting the impressive progress of Qatar-based enterprises and the shared ambition of both countries to deepen cross-border investments and strengthen private sector collaboration.
He said, “An achievement of this scale reflects the unwavering dedication and remarkable perseverance that have defined every step of Snoonu’s growth journey. QDB is proud to have played a supporting role as the company’s first institutional investor, having led two strategic investment rounds through our investment arm. Our support extended beyond financial investment, contributing directly to Snoonu’s strategic evolution as an active member of its board.
“Together, we enabled the company to expand its services within the Qatari market, explore new verticals, and shape forward-looking growth plans. We wish both parties continued success and look forward to the many opportunities this partnership will unlock for the region.”
Al-Sowaidi added: “This agreement, valued at over QR1bn, stands as a defining moment in Qatar’s venture investment landscape. It reinforces the strength of the entrepreneurial ecosystem and affirms its ability to build globally scalable technology enterprises.
“At QDB, we remain committed to empowering strategic sectors, attracting pioneering startups to choose Qatar as their base, and continuing to provide both investment and advisory support that drives regional success stories forward.”
