- Partnership to benefit both American Express and Foodics Saudi customers
- Partnership set to accelerate Foodics’ growth
30 September 2021, Riyadh, Saudi Arabia. FOODICS, the leading FoodTech company based in Saudi Arabia, has announced today that it signed a partnership with American Express Saudi Arabia, a provider of American Express payment products and services in the Kingdom.
The announcement comes at the back of its series B fundraising in February this year, during which it raised US$20 million (SAR 75mil) in a funding round led by Sanabil Investments, a firm wholly owned by Saudi Arabia’s Public Investments Fund (“PIF”).
With this latest announcement, Foodics is on track to exceed its 2021 targets, with 11,000 brands onboarded so far and growing, as well as new product launches also in the pipeline.
The partnership will enable Foodics Saudi F&B and retail customers to accept American Express cards on their Foodics Pay POS device. The service will be enabled to all Foodics Pay customers by 1st of October 2021.
Abdullah Bugshan, Foodics Pay General Manager commented, “We are on a mission to become a one-stop-shop platform for restaurant owners to grow their operations effortlessly. Our partnership with American Express Saudi Arabia will further help restaurant and retail owners increase their sales, by offering an additional world-class payment option. We are thankful to the American Express team for their trust and support, and delighted to welcome them to the Foodics family.”
Assim Alshmassi, American Express Saudi Arabia Chief Business Development Officer commented, “At American Express Saudi Arabia, we are committed to offering unique products and services to our existing and prospective customers. In this context, we are delighted to be signing this partnership with Foodics, as this allows us to extend our network of merchants to include Foodics’ F&B and retail customers in the Kingdom. This partnership comes in direct support of our objective to continuously meet and exceed our customers’ expectations.”
Since its inception, Foodics has successfully processed over 5 billion orders through the platform, and over 50,000+ terminals while catering to over 11,000 F&B brands. This latest major announcement further strengthens its position in KSA.
The tech company, which offers an all-in-one retail management platform helping retail and restaurant owners run their business, had recently announced its Series B, bringing the total funds raised by Foodics so far to US$28mil (SAR 105mil).
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FOODICS is the leading FoodTech and FinTech company based in Saudi Arabia, with a 360° SaaS Ecosystem that forges ahead in the F&B industry by supporting its end-to-end digitization. Its vision is to become a leading Fintech and software trusted partner globally, for retailers and sellers who want to grow their business.
FOODICS’ mission is to empower restaurant and retail owners with a comprehensive cloud-based POS and retail management system to enrich their operations. It caters to every segment of the F&B sector from traditional dine-in restaurants, cafés, fast food outlets, bakeries, food trucks through to cloud kitchens.
Founded in 2014 and headquartered in Riyadh, Foodics’ fast-growing demand made it available for businesses and sellers across the MENA region, with 7 offices in Saudi Arabia, the United Arab Emirates, Jordan, Kuwait and Egypt. Foodics, the software, is also available in English, Arabic and French, making it one of the most promising SaaS companies in the MENA region. Foodics serves its customers 24/7 and since its inception, Foodics has successfully processed over 5 billion orders through the platform, and over 51,000+ terminals while catering to over 11,000 F&B brands.
About American Express Saudi Arabia:
American Express Saudi Arabia is a leading integrated payments company that strives to find new ways to enrich customers’ lives, have their backs, and provide its signature special brand of service.Since its formation in the Kingdom in 1999, American Express Saudi Arabia has been delivering an unparalleled standard of excellence while staying focused on the biggest opportunities to continuously develop and create innovative advanced payment solutions for individuals, merchants and corporations.
American Express is a globally integrated payments company that provides customers with access to products, insights and experiences that enrich lives and build business success. Its integrated payments platform includes card-issuing, merchant-acquiring and card network businesses. It is a leader in providing payment products and services to a broad range of customers, including consumers, small businesses, mid-sized companies and large corporations around the world.
Today American Express is ranked as the 67th in Fortune 500 with USD 1.2 trillion Worldwide Billed Business and 114 million Cards-in-Force. It is also the 9th Fortune’s 100 Best Companies to Work For and ranked the 14th Fortune’s World Most Admired Companies.