Saudi-based restaurant and payments technology company Foodics has acquired UK-based Solo, a provider of self-ordering kiosks and digital ordering solutions, for an undisclosed amount. The company has also announced investments in three startups as part of its $100 million strategic investment plan for the next three years.
Founded in 2014 by Ahmad Al-Zaini, Foodics has grown to serve more than 30,000 F&B business owners across 30 countries. The company, which is licensed as a Fintech by the Saudi Central Bank (SAMA), has processed over 6 billion orders through its platform and raised $170 million in its Series C round.
The acquisition of Solo Venture will integrate self-service solutions and AI-powered analytics into Foodics’ ecosystem. Additionally, the company has made strategic investments in three startups: Greece-based Norma for AI-powered data analytics, Add for SMB accounting solutions, and Arzaq Plus, a supply chain platform for the F&B industry.
Ahmad Al-Zaini, co-founder and CEO of Foodics, said, “This acquisition is a significant step in our mission to build the most comprehensive restaurant management platform in MENA and beyond. We are allocating $100M in strategic acquisitions and investments in Fintech, AI, and other transformative technologies over the coming three years.”
Through the Arzaq Plus investment, Foodics plans to introduce “Buy Now, Pay Later” features for restaurant bills, aiming to help restaurants better manage their cash flow and increase revenue.
The announcements coincide with Foodics’ 10th anniversary, marking a decade of innovation in the MENA region’s restaurant technology sector. The company continues to expand its 360-degree SaaS ecosystem for the F&B industry, combining payment solutions with comprehensive restaurant management tools. Copy
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