Foodics set to replicate success from its KSA and UAE market entries
Foodics the popular F&B and Retail tech startup based in Saudi Arabia, officially announced today its geographical expansion into the Egyptian market. Having already established a strong presence in KSA and the UAE since its inception in 2014, this latest expansion comes at the back of closing its series A, with the company now fundraising for series B, the company reveled via a recent press communique.
The tech start-up, which offers an all in one Point Of Sale (PoS) Solution and management platform which helps restaurants and cloud kitchens owners run their business, has so far successfully serviced over five thousand customers and processed over a billion orders through the Foodics SaaS (Software as a Service) platform, totaling over US$ 2bn GMV (Gross Merchandise Volume) transactions in 2019 and catering to more than 5,000 clients and over 10,000 F&B outlets.
“With an F&B Market estimated to be worth around US$15bn and growing at a 15-20% rate over the next five years, Foodics’ expansion into Egypt was always an integral part of our business plan,” commented Ahmad Al-Zaini, Co-Founder and CEO.
Starting its Egyptian operations in Cairo city, the Egyptian Foodics team will first focus on its SaaS platform and hardware for restaurants, later followed by the launch of its Foodics NOW products.
“During our pilot phase, our 360° SaaS Ecosystem was in fact extremely well received by Egyptian businesses, with our sales team in Egypt already successfully closing over 15 new businesses,” remarked Mohammad Ayman, the newly appointed Country Manager, Egypt.
