Cairo, September 13, 2023: On the occasion of its 3rd anniversary in the Egyptian market, Foodics in Egypt, the leader in restaurant management solutions in Egypt and the Middle East, conducted a comprehensive review of its future business strategy, remarkable business volume, and the exceptional services extended to its partners in Egypt.
Foodics’ visionary approach aims to revolutionize restaurant management systems in Egypt by offering a one-stop-shop restaurant management ecosystem. This strategic direction is in perfect alignment with global and technological trends, marking a significant step forward for the country. By spearheading the digitization and advancement of the F&B sector, Foodics actively supports Egypt’s Vision 2030 for digital transformation.
“Our company places great emphasis on empowering restaurant owners and merchant owners,” stated Belal Zahran, General Manager of Foodics in Egypt. “We are committed to providing them with a comprehensive cloud-based POS system to enrich their operations and cater to a wide range of activities within the F&B sector.”
Zahran further commented, “Over the past three years, Foodics has made remarkable strides in the Egyptian market. We are proud to have achieved a 3-fold increase year over year in our business volume. This growth can be attributed to the expanding network of Foodics partners who have embraced our diverse cloud solutions. Our partners range from international and local merchants, cloud kitchens, dine-in restaurants, local bakeries, food trucks, quick service restaurants, franchises, and even large-scale restaurants located across multiple governorates in Egypt.”
He also added that Foodics has raised a record US$198 million through multiple rounds of series funding. With the latest US $170 million in Series C funding boosting its innovation capabilities to better serve business owners. This substantial investment paves the way for Foodics to expand its footprint both regionally and globally, solidifying its presence in key markets. Furthermore, the infusion of funds amplifies the company’s merger and acquisition strategy, positioning Foodics as a frontrunner in the industry. By leveraging the power of cloud technology, Foodics remains at the forefront of emerging companies in the region, embracing a forward-thinking approach that sets it apart from its competitors.
From its humble beginnings with just four employees and three departments, Foodics in Egypt has experienced remarkable growth. The company now boasts a team of 108 employees across eight departments in addition to a dedicated local support team, catering to the diverse needs of its partners. This strategic expansion is driven by the company’s unwavering commitment to addressing the diverse needs of the market and develop tailored solutions that precisely align with the unique requirements of its partners in Egypt.
He outlined Foodics’ ambitious roadmap for 2023, which encompasses several key objectives. Firstly, the company aims to double its partners by expanding its reach to a broader range of restaurants and cafes.. Furthermore, Foodics is actively forging robust partnerships with different stakeholders, fostering collaborative efforts that will drive the digital transformation of SMEs in the F&B sector.
Foodics provides a diverse range of innovative solutions and systems designed to streamline restaurant operations and drive its growth. At the core is Foodics POS system, a comprehensive cloud-based solution that empowers restaurant management with seamless control and efficiency. Additionally, Foodics offers Foodics Pay, which enhances and facilitates the checkout experience through the integration between payment devices and Foodics cashier app, which eliminates manual intervention of the cashier in the card payment process by decreasing daily end-of-day operations. Furthermore, Foodics Enterprise presents a powerful Multi-Branch Management Solution, enabling businesses to effortlessly oversee and optimize operations across multiple branches from a unified platform.
Adding to that, Foodics Kiosk, the latest solution offered by Foodics in Egypt, is a self-ordering system that helps increase average order volume while reducing operational costs by improving efficiency. Additionally, Foodics Online, which allows customers to order and pay electronically without any intermediary or external commissions. Also, there is Foodics Marketplace which offers various external applications that can be integrated with Foodics systems to improve the overall experience of managing restaurants and cafes. Finally, Foodics Accounting, which is set to be launched soon, offers a comprehensive accounting solution, designed for the F&B industry, and integrates seamlessly with Foodics RMS, allowing for automatic and real-time mapping and syncing of all transaction and financial data. This eliminates the need for manual data entry and ensures that restaurants accounting records are accurate, secured and always up-to-date.
With the rapid digitization of the F&B sector, it has become crucial for businesses to adapt and leverage technology to stay competitive. Zahran concluded, “We are dedicated to empowering the F&B sector with innovative digital solutions that enable businesses to thrive in today’s competitive landscape. Our goal is to provide the sector with the tools it needs to enhance customer experiences, optimize operations, and achieve sustainable growth”.
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Boilerplate
Foodics is the leading Restaurant and Payment Tech company in MENA, with an innovative 360° SaaS ecosystem making it a pioneer in the regional F&B industry. Formally licensed as a Fintech company by the Saudi Central Bank (SAMA). Foodics has been working in Egypt since 2020 and was able to achieve significant growth in the volume of its operations, reaching 3 fold year over year. Foodics in Egypt helps a group of distinguished brands in the F&B sector to control all its different operations at any time and from anywhere. The company’s vision is to build a complete restaurant management ecosystem that enables owners to run their operations seamlessly and grow their business.Its mission is to empower restaurant and merchant owners with a comprehensive cloud-based POS system to enrich their operations. Foodics caters to every segment of the F&B sector from traditional dine-in restaurants, cafés, quick service restaurants, bakeries, food trucks through to cloud kitchens and non-food micro-retailers. Since its inception in Saudi Arabia in 2014, it has successfully processed over 6 billion orders through the platform and raised a record USD170 mil in Series C round, making it one of the most promising SaaS companies to emerge from the MENA region.
