Foodics expands to Egypt and hopes to become micro-loan lender

Foodics expands to Egypt and hopes to become micro-loan lender

Saudi Arabia-based food and beverages (F&B) retail and restaurant management platform Foodics, has expanded to Egypt. 

The expansion comes after the cloud-based company closed its pre-Series B investment round in 2019, raising $4 million. 

Founded in 2014 by Ahmad Al-Zaini and Mosab Al-Othmani, Foodics offers a point of sale (POS) solution and management platform which helps restaurants and cloud kitchens owners effectively manage their business. 

The company has so far serviced over 5000 customers and processed over a billion orders through its Software-as-a-Service (SaaS) platform, totaling over $2 billion gross merchandise volume (GMV) transactions in 2019 and catering to more than 10,000 F&B outlets.

"With an F&B Market estimated to be worth around $15 billion and growing at a 15-20 per cent rate over the next five years, Foodics' expansion into Egypt was always