Foodics Invests in Funding Souq for Restaurant Financing

Foodics invests in Funding Souq to expand embedded restaurant financing and support SMEs across Saudi Arabia and the UAE.

Expanding Restaurant Financing Through Technology

The partnership will expand financing opportunities for restaurants and other small and medium-sized enterprises (SMEs) in Saudi Arabia and the UAE, starting with businesses in Foodics’ customer network.

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By combining Funding Souq’s credit assessment capabilities with Foodics’ restaurant technology and operational data, the companies aim to make financing more accessible and better suited to how restaurants generate revenue.

For restaurant owners, access to financing can make a difference when they need to manage operating costs, purchase inventory, upgrade equipment, or expand their businesses.

However, securing funding can be difficult when traditional credit assessments do not fully reflect a restaurant’s day-to-day performance.

Data-Driven Loans for Hospitality Businesses

Foodics and Funding Souq are looking to address this gap by connecting financing with restaurant sales and performance data. The approach could help eligible businesses access funding based on a clearer picture of how their operations are performing.

The partnership also reflects a broader shift in restaurant technology, as providers look beyond software and payments to offer financial services within the same business ecosystem.

Regulatory Framework and Future Outlook

Funding Souq operates a Shariah-compliant financing platform regulated by the Saudi Central Bank (SAMA) and the Dubai Financial Services Authority (DFSA). It connects businesses seeking financing with investors, offering an alternative route for established SMEs to raise capital.

Under the partnership, Funding Souq will extend its financing solutions to Foodics’ network of restaurant and hospitality businesses.

Restaurant sales and operational performance data will support credit assessments, helping the financing platform evaluate businesses and develop funding options suited to their needs.

Martin Jaouni, founder and CEO of Funding Souq, said the partnership had produced what he described as Saudi Arabia’s first fully automated business loan.

“Together we have created Saudi Arabia's first fully automated business loan, bringing Foodics' deep reach across the restaurant and hospitality sector together with our regulated financing infrastructure to deliver capital to merchants the moment they need it,” Jaouni said.

He added that the partnership would accelerate Funding Souq’s embedded finance strategy, which the company plans to extend to underserved SMEs across Saudi Arabia and the UAE.

Anas AlGhanim, VP of Investments and Corporate Development at Foodics, said the investment would support Funding Souq.