Riyadh - Sharikat Mubasher: Foodics, the Saudi-based fintech and foodtech platform, studies offering at least 30% of its shares for initial public offering (IPO) on Tadauwl by the end of 2025, CEO Ahmad AlZaini unveiled.
The company aspires to raise its capital this year by attracting investors to prepare for the pre-IPO stage and finance future merger and acquisition deals, AlZaini said in an interview with Asharq Business.
Foodics is a leading restaurant operation and payment platform in the Middle East and North Africa (MENA) that powers the operations of over 30,000 restaurants with an all-in-one software system.
It should be noted that Foodics was recognized by Forbes among the top 10 fintech firms in the Middle East.
In 2023, it launched its new fintech offering in the B2B buy now pay later (BNPL) market in Saudi Arabia to provide Foodics’ food and beverages clients and merchants with instant access to tech with cash flow-friendly repayment.
