Kamco Invest, a leading regional non-banking financial powerhouse, has announced that its private equity division has acquired a stake in Foodics, one of the MENA region’s fastest-growing cloud-based restaurant technology and payments platforms.
Founded in 2014, Foodics currently supports over 33,000 restaurants, enabling an annual gross merchandise value (GMV) exceeding $10 billion in 2024. The platform provides restaurant operators with an integrated solution for managing orders, operations, finances, and access to capital—all from a single interface.
This investment, which closed in Q4 2024, complements Kamco Invest’s broader strategy to provide its clients with exposure to high-growth, tech-enabled businesses in the MENA region—especially those targeting IPOs in local markets. With a strong market position in Saudi Arabia, Foodics is poised for a public listing on Tadawul within 2–3 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.”
