Kamco Invest, a major non-banking financial company in the region, has announced that its private equity arm has invested in Foodics.
Foodics is one of the MENA region’s fastest-growing platforms, offering cloud-based technology and payment solutions for restaurants.
Foodics was founded in 2014 and now supports over 33,000 restaurants. In 2024, it helped process more than $10 billion in annual gross merchandise value (GMV).
The platform offers restaurant owners a complete system to manage orders, daily operations, finances, and even access funding—all through one easy-to-use interface.
The investment, finalized in the fourth quarter of 2024, is part of Kamco Invest’s strategy to give its clients access to fast-growing, tech-driven companies in the MENA region—especially those planning to go public.
Foodics, which has a strong presence in Saudi Arabia, is expected to launch its IPO on the Tadawul stock exchange within the next 2 to 3 years.
The company’s latest funding round of $170 million was led by Prosus and Sanabil Investments (a PIF-owned fund), with participation from Sequoia Capital India, STV, Raed Ventures, Endeavor Catalyst, and others.
Dalal J. Al Shaya, Director of Private Equity at Kamco Invest, commented, “We are proud to back a regional tech champion like Foodics. Its scale, innovation, and strong investor base signal an exciting growth trajectory. This investment aligns with Kamco Invest’s commitment to enabling long-term value creation and expanding our tech investment footprint in the Gulf region.”
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