Riyadh – Sharikat Mubasher: Funding Souq, a Saudi-based Shariah-compliant SME financing platform, announced it has secured a strategic investment from Foodics, a MENA-based restaurant technology and financial services platform, making Foodics its largest investor.
As per a recent press release, the investment aims to expand embedded financing solutions for small and medium-sized enterprises (SMEs) in Saudi Arabia and the UAE, initially targeting restaurants and hospitality businesses within Foodics’ customer network.
The partnership will combine Funding Souq’s regulated financing infrastructure and credit expertise with Foodics’ technology and restaurant sales data to improve credit assessments and provide financing tailored to merchants’ operational needs.
The investment also complements Foodics’ broader financial services strategy, including Capital 2.0, an automated financing solution for restaurants. Foodics plans to deploy $100 million through the initiative in its first year.
Martin Jaouni, founder and CEO of Funding Souq, said the partnership would accelerate the company’s embedded finance expansion across sectors underserved by traditional financing.
Funding Souq has more than 10,000 investors on its platform and aims to facilitate $1 billion in SME financing over the next three years as it expands its Shariah-compliant offerings.
