GLOBAL: The PE team at Kamco Invest acquired a stake of Foodics, on behalf of its clients, where the transaction process began in Q4 2024. Foodics is considered the leading cloud-based technology and payments platform for restaurants in the MENA region. Established in 2014, it supports over 33,000 restaurants with an annual gross merchandise value of over US$10 billion in 2024.
Among the investors in Foodics in a recent US$170 million fundraising round are Prosus, Sanabil Investments and Sequoia Capital India. Existing investors include STV, Endeavor Catalyst, Vision Ventures, Raed Ventures, Riyadh Taqnia Fund and Faith Capital.
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