Kamco Invest, a leading regional non-banking financial services company headquartered in Kuwait, announced that its Private Equity team has invested in Foodics, the MENA region’s leading restaurant and payments technology platform, on behalf of its clients.
The investment was part of Foodics’ Series C round totaling USD 170 million, led by Prosus, a global technology investment powerhouse, and Sanabil Investments, a PIF-owned entity focused on private growth capital. Other investors included Sequoia Capital India, STV, Endeavor Catalyst, Vision Ventures, Raed Ventures, Riyadh Taqnia Fund, Faith Capital, among others.
The transaction, completed in Q4 2024, was recently finalized following regulatory and legal processes. This investment aligns with Kamco Invest’s strategy to deliver high-value growth opportunities to its clients by backing leading tech companies in the region with near-term IPO prospects on local capital markets.
Founded in 2014 and led by Ahmad AlZaini, Foodics serves over 33,000 restaurants, with more than USD 10 billion in gross merchandise value processed in 2024 alone. The company offers an all-in-one cloud-based system for restaurant operations, enabling owners to manage everything from order processing to financials through a single dashboard.
With a dominant presence in Saudi Arabia, the most active and profitable tech market in the region, Foodics is positioned for a successful IPO within 2–3 years, leveraging favorable market dynamics and access to Tadawul.
Dalal J. Al Shaya, Director of Private Equity at Kamco Invest, commented:
“We are proud to support a regional tech champion like Foodics, which is demonstrating an impressive growth trajectory across multiple strategic pillars. We are confident in its business model, strong leadership, and IPO readiness.”
