Foodics has launched Capital 2.0, an automated financing solution designed to give eligible restaurants faster access to working capital and expansion funding across MENA.
Unveiled at Money20/20 Middle East in Riyadh on September 14, the solution uses restaurant performance data from Foodics’ platform and AI-powered credit scoring to pre-qualify businesses. According to the company, eligible funding can be approved and disbursed within four hours, without a traditional funding application.
Restaurants can select financing terms and complete the process digitally through the Foodics App. Funding covers working capital and invoice factoring for suppliers, ranging from about $5.3K (SAR 20K) to $533K (SAR 2M) or more for expansion. Repayments are made through deductions from daily settlements instead of larger monthly payments.
Foodics is targeting $99.96M (SAR 375M) in funding during the first year. The launch expands the company’s role from restaurant management software into payments and embedded financial services, with merchants also able to manage sales, cash and payouts through its MyFoodics App.
The company said Capital 2.0 is part of a broader rollout of financial capabilities, including omnichannel payments, reconciliation tools and instant settlements.
Source: Waya
