Saudi restaurant management platform Foodics extends operations into Egypt
Foodics, a Saudi Arabian-based restaurant management platform, has made its foray into Egypt with an on-the-ground presence in Cairo. The startup, which has served over 5,000 clients and has its software used in more than 10,000 F&B outlets, is set to disrupt the Egyptian food and beverage (F&B) market.
Mohammad Ayman, a former Country Operations Manager at Glovo, has been appointed to lead Foodics in Egypt. During the pilot phase in Egypt, Foodics' 360° SaaS Ecosystem was well received, with over 15 new businesses successfully closed. Mohammad forecasts closing well over 50 businesses before the end of the year in Egypt.
Foodics offers an all-in-one Point of Sale solution and restaurant management platform. The software allows businesses to accept payments, monitor sales, send orders to the kitchen, digitize menus, manage employees, and analyze business with smart reports. It also integrates with over 100 other apps through its marketplace.
Ahmad Al-Zaini, the co-Founder and CEO, stated that Egypt's F&B market, estimated to be worth around $15 billion and growing at a 15-20 percent rate over the next 5 years, was an integral part of Foodics' business plan. The expansion to Egypt is, therefore, an integral part of Foodics' strategy to expand its footprint.
Mohammad Ayman expressed ambitious targets for Foodics in Egypt. The startup is currently raising a Series B round, aiming to further accelerate its growth. In addition to its existing services, Foodics plans to launch Foodics Now, a platform for restaurants to sell online.
Foodics was founded in 2014 and has maintained a strong presence in Saudi Arabia and the UAE. To date, it has raised $8 million, with its latest investment round securing $4 million. The platform has processed over a billion orders through its SaaS platform, with over $2 billion in GMV transactions in 2019.
As Foodics sets its sights on Egypt, it is poised to revolutionize the F&B industry, offering businesses a comprehensive, efficient, and user-friendly solution to manage their operations. With its expansion, Foodics is not only catering to the growing demand for such a platform but also contributing to the digital transformation of the Egyptian F&B sector.
