Arab Press

بالشعب و للشعب
Monday, Sep 01, 2025

Foodics to dish out microlending products, plans to go public soon

Foodics to dish out microlending products, plans to go public soon

Foodics, one of Saudi Arabia’s leading restaurant management startups, is planning its initial public offering in the Kingdom’s stock market soon, even as it is rolling out new services in a couple of months, said a senior company official.

In an exclusive interview with Arab News, Djamel Mohand, chief operating officer of Foodics, said that the company has the capability and resources to go public at any time, but it wants to do it the right way.

“We’re getting ready from a company and governance perspective because going public is not an easy thing. But we are getting ready,” Mohand said.

He added that the time frame had not been decided yet as the company is not in a rush, but stated that it will “definitely explore in the short term.”

Founded in 2014, the company offers a wide range of products for the food and beverage sector, ranging from point-of-sale services to payment solutions. It currently has over 22,000 clients in over 40 countries.

Foodics secured $170 million in its series C round of funding in April, which was its pre-IPO round and is not planning to raise any additional funds.

The company is using the proceeds of the last round to support the launch of its micro-lending services which will go live in the Kingdom in two months after a successful pilot test.

“We’re going to have a full-fledged launch of a Foodics Capital product in the next two months. We have a $200 million fund to do that. So, we’re going to do something massive to help food and beverage businesses to finance themselves,” he added.

The company provides POS services for its clients, so it can better determine the business’ health when applying for a credit loan.

“We created our credit scoring and qualification criteria to provide restaurants with loans that can go up to $150,000,” Mohand said.

Simplifying the process further, Mohand explained that after six months of onboarding a Foodics client, the business owner can apply for a loan. That is not all; the repayment process is even more straightforward.

“The repayment is very easy as we also provide clients with a payment terminal, so daily we settle their money of the credit card transactions by deducting the loan amount. It’s going to be automatically collected through the credit card transaction settlement,” he explained.

The company is now adding payment capabilities into every customer facing touchpoint to speed up checkouts and enhance customer experience.

For the fintech companies in the F&B space, Foodics offers table payment, online payment for online orders, and a server app that allows them to collect payments and print receipts through their tablet device.

“Foodics can give restaurants an innovative experience to accept digital payments and to have smoother operations,” Mohand added.

Mohand believes that the company’s payment solutions will amount to almost 50 percent of total revenue and increase annual earnings by up to three times.

The company is also planning to get at least 70 percent of its current customers to use its payment solutions within the next six months to one year.

“The biggest competitive advantage is not only capturing the payment on all the touch points, but it’s the post-payment and the settlement experience where we are launching instant settlement as merchants are settled immediately for the trans- action,” said Mohand.

“Integrating the payment solutions and the POS allows our customers to have a seamless reconciliation. So they have a dashboard where they see every- thing. They don’t even need accountants anymore,” Mohand explained.

Foodics has been focusing on the Kingdom ever since its inception. However, with the company’s current growth rate, he said it could become a global player by getting a big chunk of market share in Africa and Southeast Asia.

Newsletter

Related Articles

Arab Press
0:00
0:00
Close
Israeli Airstrike in Yemen Kills Houthi Prime Minister
After the Shock of Defeat, Iranians Yearn for Change
YouTube Altered Content by Artificial Intelligence – Without Permission
Iran Faces Escalating Water Crisis as Protests Spread
More Than Half a Million Evacuated as Typhoon Kajiki Heads for Vietnam
HSBC Switzerland Ends Relationships with Over 1,000 Clients from Saudi Arabia, Lebanon, Qatar, and Egypt
Sharia Law Made Legally Binding in Austria Despite Warnings Over 'Incompatible' Values
Dogfights in the Skies: Airbus on Track to Overtake Boeing and Claim Aviation Supremacy
Tim Cook Promises an AI Revolution at Apple: "One of the Most Significant Technologies of Our Generation"
Are AI Data Centres the Infrastructure of the Future or the Next Crisis?
Miles Worth Billions: How Airlines Generate Huge Profits
Zelenskyy Returns to White House Flanked by European Allies as Trump Pressures Land-Swap Deal with Putin
Beijing is moving into gold and other assets, diversifying away from the dollar
Trump Backs Putin’s Land-for-Peace Proposal Amid Kyiv’s Rejection
Zelenskyy to Visit Washington after Trump–Putin Summit Yields No Agreement
Iranian Protection Offers Chinese Vehicle Shipments a Cost Advantage over Japanese and Korean Makers
United States Sells Luxury Yacht Amadea, Valued at Approximately $325 Million, in First Sale of a Seized Russian Yacht Since the Invasion of Ukraine
Saudi Arabia accelerates renewables to curb domestic oil use
Cristiano Ronaldo and Georgina Rodríguez announce engagement
Asia-Pacific dominates world’s busiest flight routes, with South Korea’s Jeju–Seoul corridor leading global rankings
Private Welsh island with 19th-century fort listed for sale at over £3 million
Sam Altman challenges Elon Musk with plans for Neuralink rival
Australia to Recognize the State of Palestine at UN Assembly
The Collapse of the Programmer Dream: AI Experts Now the Real High-Earners
Armenia and Azerbaijan to Sign US-Brokered Framework Agreement for Nakhchivan Corridor
British Labour Government Utilizes Counter-Terrorism Tools for Social Media Monitoring Against Legitimate Critics
WhatsApp Deletes 6.8 Million Scam Accounts Amid Rising Global Fraud
Texas Residents Face Water Restrictions While AI Data Centers Consume Millions of Gallons
India Rejects U.S. Tariff Threat, Defends Russian Oil Purchases
United States Establishes Strategic Bitcoin Reserve and Digital Asset Stockpile
Thousands of Private ChatGPT Conversations Accidentally Indexed by Google
China Tightens Mineral Controls, Curtailing Critical Inputs for Western Defence Contractors
JPMorgan and Coinbase Unveil Partnership to Let Chase Cardholders Buy Crypto Directly
British Tourist Dies Following Hair Transplant in Turkey, Police Investigate
WhatsApp Users Targeted in New Scam Involving Account Takeovers
Trump Deploys Nuclear Submarines After Threats from Former Russian President Medvedev
Germany’s Economic Breakdown and the Return of Militarization: From Industrial Collapse to a New Offensive Strategy
Germany Enters Fiscal Crisis as Cabinet Approves €174 Billion in New Debt
IMF Upgrades Global Growth Forecast as Weaker Dollar Supports Outlook
Politics is a good business: Barack Obama’s Reported Net Worth Growth, 1990–2025
UN's Top Court Declares Environmental Protection a Legal Obligation Under International Law
"Crazy Thing": OpenAI's Sam Altman Warns Of AI Voice Fraud Crisis In Banking
Japanese Prime Minister Vows to Stay After Coalition Loses Upper House Majority
President Trump Diagnosed with Chronic Venous Insufficiency After Leg Swelling
Man Dies After Being Pulled Into MRI Machine Due to Metal Chain in New York Clinic
FIFA Pressured to Rethink World Cup Calendar Due to Climate Change
Iranian President Reportedly Injured During Israeli Strike on Secret Facility
Kurdistan Workers Party Takes Symbolic Step Towards Peace in Northern Iraq
BRICS Expands Membership with Indonesia and Ten New Partner Countries
Elon Musk Founds a Party Following a Poll on X: "You Wanted It – You Got It!"
×