The strategic investment will expand access to Shariah-compliant financing for restaurants and SMEs, building on the companies’ existing collaboration in embedded financial services.
Saudi-based SME financing platform Funding Souq has secured a strategic investment from Foodics, the restaurant technology and fintech company, to expand embedded financing services across Saudi Arabia and the United Arab Emirates.
Foodics is joining as a major investor in Funding Souq’s latest funding round, strengthening an existing relationship between the two companies. The investment will support Funding Souq’s growth and extend its Shariah-compliant financing solutions to restaurants and hospitality businesses using Foodics’ technology platform.
The collaboration brings together Funding Souq’s regulated financing infrastructure and expertise in SME credit with Foodics’ restaurant management technology, customer network and business data. By incorporating restaurant sales and operating performance into credit assessments, the companies aim to provide financing that better reflects the needs and cash flow patterns of food and beverage businesses.
Expanding access to financing for restaurants and SMEs
Funding Souq operates under regulatory frameworks overseen by the Saudi Central Bank (SAMA) and the Dubai Financial Services Authority (DFSA).
Its platform connects SMEs seeking financing with institutional and individual private credit investors. The company also operates a financing infrastructure business that provides regulated access to SME financing in Saudi Arabia.
Its offerings include term financing, invoice financing and supplier financing through Shariah-compliant structures.
Through the Foodics relationship, Funding Souq will be able to reach a wider network of restaurant operators, using transaction and performance data to support financing decisions and offer businesses access to capital through the technology they already use.
Martin Jaouni, founder and CEO of Funding Souq, said the companies have worked together to develop an automated financing solution for businesses in Saudi Arabia.
“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.
Funding Souq plans to extend its embedded financing model beyond restaurants to other underserved SME sectors in Saudi Arabia and the UAE.
The company has built a community of more than 10,000 investors on its platform and aims to facilitate $1 billion in financing for SMEs over the next three years.
Foodics builds on its Capital 2.0 financing platform
The investment follows the launch of Foodics’ Capital 2.0, an automated restaurant financing solution introduced during Money20/20 Middle East in Riyadh.
The platform brings financing into Foodics’ restaurant technology ecosystem, allowing eligible businesses to access capital alongside the operational and payment services they already use.
Foodics plans to provide $100 million in financing through Capital 2.0 during its first year. Funding Souq was among the financing partners involved in the platform’s launch, making the latest investment a further development in the companies’ existing relationship.
Anas AlGhanim, vice president of investments and corporate development at Foodics, said the investment would support Funding Souq’s expansion while bringing its financing capabilities closer to Foodics’ customer network.
“We see this investment as an opportunity to support the company’s next phase of growth, while also bringing together Funding Souq’s financing capabilities and Foodics’ technology ecosystem to expand financing services and make access to capital more seamless for our customers,” AlGhanim said.
Foodics expands beyond restaurant technology
Founded in 2014 by Ahmad Al-Zaini and Musab Alothmani, Riyadh-headquartered Foodics provides cloud-based restaurant management technology covering point-of-sale systems, payments, online ordering, business intelligence and financial services.
According to company information, Foodics serves more than 40,000 active restaurant branches across the region, with gross merchandise volume exceeding $12 billion.
The company has attracted substantial venture capital investment to support its expansion. In 2022, it raised $170 million in a Series C funding round led by Prosus and Sanabil Investments, as previously reported by Rasmal.
Foodics has since continued developing its financial services business alongside its core restaurant technology offerings, with Capital 2.0 and the Funding Souq investment extending its involvement in SME financing.
The investment also aligns with Foodics’ longer-term ambition to build a broader financial services platform serving restaurants and hospitality businesses, integrating access to capital with the technology used to manage their day-to-day operations.
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Last Updated on October 15, 2026 by Safiya K
