Foodics, the leading FoodTech company based in Saudi Arabia, has signed a partnership with American Express Saudi Arabia, which is set to accelerate the firm’s growth.
With this, Foodics is on track to exceed its 2021 targets, with 11,000 brands onboarded so far and growing, as well as new product launches also in the pipeline.
The announcement comes at the back of its series B fundraising in February this year, during which it raised $20 million (SR75 million) in a funding round led by Sanabil Investments, a firm wholly owned by Saudi Arabia’s Public Investments Fund (PIF).
The partnership will enable Foodics Saudi F&B and retail customers Foodics Pay customers by October 1, 2021.
Abdullah Bugshan, Foodics Pay General Manager commented: “We are on a mission to become a one-stop-shop platform for restaurant owners to grow their operations effortlessly. Our partnership with American Express Saudi Arabia will further help restaurant and retail owners increase their sales, by offering an additional world-class payment option. We are thankful to the American Express team for their trust and support, and delighted to welcome them to the Foodics family.”
Assim Alshmassi, American Express Saudi Arabia Chief Business Development Officer said: “At American Express Saudi Arabia, we are committed to offering unique products and services to our existing and prospective customers. In this context, we are delighted to be signing this partnership with Foodics, as this allows us to extend our network of merchants to include Foodics’ F&B and retail customers in the kingdom. This partnership comes in direct support of our objective to continuously meet and exceed our customers' expectations.”
Since its inception, Foodics has successfully processed over 5 billion orders through the platform, and over 50,000+ terminals while catering to over 11,000 F&B brands. This latest major announcement further strengthens its position in KSA.
The tech company, which offers an all-in-one retail management platform helping retail and restaurant owners run their business, had recently announced its Series B, bringing the total funds raised by Foodics so far to $28 million (SR105 million).-- TradeArabia News Service
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