13 October 2022, Riyadh, Saudi Arabia. King Abdullah Financial District, (“KAFD”) has announced that it has signed an MOU with FOODICS, the leading cloud-based restaurant tech and payments platform in the MENA region. Under this partnership, KAFD will integrate FOODICS’ pioneering tech ecosystem with all points of sale for F&B, retail and pop-up outlets, as well as offices and residences.
KAFD is set to become the prime business and lifestyle destination in the region, leading the way on smart technology and digital integration to promote ease of living and working, offering advanced office infrastructure and sustainable smart city solutions, as well as unique lifestyle experiences with leading leisure and retail facilities.
Gautam Sashittal, CEO of KAFD said: “We want our residents, tenants and visitors to be able to access everything they need from the palm of their hand, to shop, work out, relax and dine with seamless ease. Our agreement with Foodics is an important stepping stone on the way to achieving this digital integration. We are excited to enter into this partnership, growing KAFD’s offering in conjunction with Foodics’ cutting-edge technology. Together, we are helping to make the Kingdom a desirable destination at the peak of technological progress.”
Suhail Jabir, KSA General Manager at FOODICS commented, “We are proud to be partnering with KAFD and thank the team for their trust. Our smart tech solutions will benefit residents and businesses alike, while further fostering economic growth.” He added, “This announcement cements the position of FOODICS as a tech powerhouse, digitizing experiences beyond F&B.”
FOODICS is officially recognized by the Saudi Central Bank (“SAMA”) as a FinTech company. Since its inception in 2014, Foodics has successfully processed over 6 billion orders through its platform. It also raised a record US$170 million in its series C funding round earlier this year, boosting its innovation capabilities to better serve business owners and partners.
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FOODICS is the leading Restaurant and Payment Tech company in MENA, with an innovative 360° SaaS ecosystem making it a pioneer in the regional F&B industry. Formally licensed as a Fintech company by the Saudi Central Bank (SAMA), the company’s vision is to build a complete restaurant management ecosystem that enables owners to run their operations seamlessly and grow their business. Its mission is to empower restaurant and merchant owners with a comprehensive cloud-based POS system to enrich their operations. FOODICS caters to every segment of the F&B sector from traditional dine-in restaurants, cafés, quick service restaurants, bakeries, food trucks through to cloud kitchens and non-food micro-retailers. Since its inception in 2014, it has successfully processed over 6 billion orders through the platform and raised a record USD170 mil in Series C round, making it one of the most promising SaaS companies to emerge from the MENA region.
For more information, please visit www.foodics.com
KAFD is an iconic business and lifestyle destination with state-of-the-art physical and digital infrastructure. An architectural marvel designed by more than 25 world-leading architectural firms, KAFD currently has 94 towers that are reshaping the skyline of Riyadh. KAFD is spread over an area of 1.6 sq km and offers a competitive business ecosystem and vibrant lifestyle experiences. KAFD is the largest development globally to achieve LEED Platinum certification, the highest accreditation from USGBC (U.S. Green Building Council), which recognizes KAFD as a global leader in sustainability.
For more information, please visit https://www.kafd.sa/en/.