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
1
regulatory licence held by Foodics
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
5 layers disclosed in Foodics’s embedded-finance stack
Payments / PSP
Foodics Pay (self-operated, SAMA-licensed payment aggregator)Adyen (UAE acquiring partner)Paymob (Egypt, with Banque Misr as acquiring bank)
Lending
in the full report
Open banking
in the full report
Sponsor bank
in the full report
Accounting
in the full report
Accounting gap: minor
9 more providers across 4 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.