Riyadh - Sharikat Mubasher: Kamco Invest, a leading provider of asset management solutions, acquired a stake in Foodics, the leading cloud-based technology and payments platform for restaurants in the MENA region.
This acquisition follows Foodics’ recent $170 million round, which was completed during the fourth quarter (Q4) of 2024, with final legal and regulatory procedures concluded recently, the company revealed in a statement yesterday.
This milestone aligns closely with Kamco Invest’s strategy to offer its clients distinctive, high-value opportunities in the region’s most promising and fastest-growing sectors through investments in leading technology companies with a planned, near-term IPO on local capital markets.
Dalal Al Shaya, Director of Private Equity at Kamco Invest, said: “We are proud to take part in this regional tech champion, which is successfully showcasing a tremendous growth trajectory with multiple pillars of growth initiatives supported by prominent regional and international investors. We are confident in Foodic’s business model, its strategy, and the team’s ability to lead the company to a successful future.”
Established in 2014, the Saudi-based Foodics supports more than 33,000 restaurants, achieving an annual gross merchandise value of over $10 billion in 2024. It allows restaurateurs to manage the entire restaurant operation from order processing to financial management and gain access to cash from a single screen.
