Foodics Invests in Funding Souq to Expand Restaurant Financing

The partnership aims to expand access to financing for restaurants and hospitality businesses by combining Funding Souq’s regulated lending infrastructure with Foodics’ restaurant technology and operational data. The collaboration will initially focus on helping merchants access financing based on their business performance and operational requirements.

Foodics and Funding Souq Expand Embedded Financing

The partnership will allow Funding Souq to offer financing solutions to restaurants within Foodics’ customer network. The companies plan to use restaurant sales and performance data to assess creditworthiness and develop financing options suited to individual businesses.

The initiative is designed to make financing more accessible to small and medium-sized enterprises (SMEs), particularly restaurants that may face challenges obtaining traditional business loans.

According to Funding Souq founder and CEO Martin Jaouni, the partnership has enabled the creation of Saudi Arabia’s first fully automated business loan through the combined capabilities of both platforms.

“We're delighted to partner with Foodics. Together we have created Saudi Arabia's first fully automated business loan, bringing Foodics' deep reach across the restaurant and hospitality sector together with our regulated financing infrastructure to deliver capital to merchants the moment they need it,” Jaouni said.

Foodics Expands Its Financial Services Offering

The investment aligns with Foodics’ broader strategy to expand beyond restaurant management technology into financial services.

The company recently introduced Capital 2.0, an automated financing solution designed for restaurants. Foodics intends to deploy US$100 million in financing through the initiative during its first year, according to the announcement.

By combining restaurant management technology with financing services, Foodics aims to make capital more accessible to businesses within its ecosystem. Its investment in Funding Souq supports this strategy by connecting its restaurant network with an established SME financing platform.

Anas AlGhanim, Vice President of Investments and Corporate Development at Foodics, said the investment would support Funding Souq’s growth while helping expand financing services for restaurant customers.

Funding Souq Targets $1 Billion in SME Financing

Funding Souq provides Shariah-compliant financing solutions to SMEs in Saudi Arabia and the UAE. Its platform connects businesses with institutional and retail private credit investors while providing financing infrastructure for eligible businesses.

The company says it has attracted more than 10,000 investors to its platform and aims to facilitate US$1 billion in SME financing over the next three years.

The investment from Foodics is expected to support the platform’s growth and expand its reach among restaurant and hospitality businesses. However, the companies have not disclosed the investment amount or the specific allocation of the proceeds.

About Funding Souq

Funding Souq is a Saudi-based fintech company founded in 2020 by Martin Jaouni. It operates a Shariah-compliant SME financing platform across Saudi Arabia and the UAE, offering term loans, invoice financing and supplier financing. The company connects SMEs with private credit investors and operates under the regulatory frameworks of SAMA and the DFSA.

About Foodics

Foodics is a MENA-based restaurant operations and financial technology company founded in 2014. It provides an integrated cloud-based platform covering restaurant management, payments and financial services. The company serves a range of businesses, including restaurants, cafés, quick-service outlets, bakeries, food trucks and cloud kitchens. Foodics has processed more than six billion orders through its platform and raised US$170 million in its Series C funding round.

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