Kamco Invest, a prominent Kuwaiti financial powerhouse, has acquired a stake in Foodics, a leading cloud-based restaurant management and payment platform headquartered in Saudi Arabia. The deal, finalized in Q4 2024 for an undisclosed amount, strengthens Kamco’s private equity portfolio focused on high-growth, tech-enabled businesses in the MENA region.
Founded in 2014 by Ahmad AlZaini and Mosab Al-Othmani, Foodics supports over 33,000 restaurants, processing more than $10 billion in gross merchandise value (GMV) in 2024 alone. Its integrated platform offers order management, operations, financial tools, and capital access for diverse food and beverage operators—from traditional restaurants to cloud kitchens.
This investment follows Foodics’ $170 million Series C round in 2022, led by Prosus and Sanabil Investments (a Saudi Public Investment Fund-owned fund), with participation from Sequoia Capital India, STV, Raed Ventures, and Endeavor Catalyst. Foodics is preparing for a public listing on Tadawul within 2–3 years.
Dalal J. Al Shaya, Director of Private Equity at Kamco Invest, expressed pride in supporting a regional tech champion and highlighted the company’s growth potential and strong investor backing, aligning with Kamco’s strategy to create long-term value and expand tech investments across the Gulf.
