Foodics
“Can a restaurant POS in MENA own the entire financial stack — payments, lending, and banking insights — for the F&B sector?”
Founded2014
HQRiyadh, Saudi Arabia
FoundersAhmad Al-Zaini, Mosab Alothmani
Total raised$198M
Latest roundSeries C (2022)
IndustryVertical SaaS / Restaurants
The story
Founded 2014 as a cloud POS/RMS for restaurants in Saudi Arabia, Foodics has steadily layered embedded finance on top of its merchant base. The 2020 launch of Foodics Capital (with Maalem Finance) turned merchant payment flows into underwriting data for working capital. The 2021 Adyen and 2022 Paymob/Banque Misr partnerships made Foodics Pay a SAMA-licensed payment aggregator across KSA, UAE, and Egypt. The 2023 FLEX B2B BNPL and 2025 Lean Technologies open-banking partnership signal a clear thesis: be the vertical financial OS for MENA F&B merchants.
Product timeline
2014
Founded in Riyadh as cloud-based POS/RMS for restaurants· pivot
2020
Launched Foodics Capital — $100M Shariah-compliant SME lending fund with Maalem Finance· lending
2021
Series B ($20M) led by Sanabil; partnered with Adyen for UAE in-store acquiring· banking
2022
Series C ($170M) — largest SaaS Series C in MENA; partnered with Paymob & Banque Misr in Egypt· banking
2023
Launched FLEX B2B BNPL program for tech subscriptions repaid via Foodics Pay flows· lending
2025
Partnered with Lean Technologies for open banking and cashflow intelligence at Money20/20 Middle East· banking
Regulated entities
Fintech license (SAMA-supervised)
Saudi Arabia (SAMA)
Alwans Strategy for Information Technology / Foodics
The stack
Payments / PSP
Foodics Pay (self-operated, SAMA-licensed payment aggregator)Adyen (UAE acquiring partner)Paymob (Egypt, with Banque Misr as acquiring bank)
Lending
Maalem Finance (Shariah-compliant capital partner)Foodics Capital ($100M micro-lending fund, SAR 18,750–500,000, up to 18 months, 6% fee)Foodics FLEX (B2B BNPL for tech subscriptions, zero interest, repaid via Foodics Pay revenue)
Open banking
Sponsor bank
Accounting
Accounting gap: minor