MENA Startups
Saudi-Based Platform Foodics Launches Capital 2.0 to Automate AI-Powered Financing for Restaurants
The AI-powered product uses restaurant performance data to determine financing eligibility and can approve and disburse capital within four hours.
Saudi restaurant management and financial technology company Foodics has launched Capital 2.0 at Money20/20 Middle East in Riyadh, introducing an automated financing product that converts restaurant performance data into immediate funding eligibility.
The launch marks another step in Foodics’ expansion from restaurant operations software into financial services. Capital 2.0 uses each restaurant’s operational and financial performance to assess its financing needs, replacing parts of the conventional application process with data already available through the Foodics ecosystem.
Eligible restaurants can review financing terms, select an appropriate offer and complete the process digitally. Foodics said the platform can approve and disburse financing within four hours, compared with traditional procedures that may take as long as four weeks.
Using Operating Data to Assess Creditworthiness
Restaurants, particularly smaller operators, often struggle to secure capital through assessment models that do not reflect how their businesses generate daily revenue.
Capital 2.0 addresses that problem through an AI layer built into the Foodics platform. The system evaluates creditworthiness using the restaurant’s actual operating performance, allowing it to identify eligible businesses without requiring them to submit a conventional financing application.
Foodics co-founder and CEO Ahmad AlZaini said restaurants generate valuable information every day that illustrates the condition of their businesses. That data should do more than help operators understand performance; it should also support their growth, he added.
AlZaini described Capital 2.0 as an important step in converting restaurant data into tangible financial value. Foodics aims to facilitate $100 million in financing during the product’s first year and establish itself as a financial partner to restaurants across the region.
Dollar conversions are based on the Saudi Central Bank’s official exchange rate of 3.75 Saudi riyals per US dollar. Saudi Central Bank
Financing Designed Around Restaurant Cash Flow
Capital 2.0 supports several financing requirements, including working capital and supplier invoice payments. Funding starts at approximately $5,300 for routine working-capital needs and can reach about $533,000 or more for expansion plans.
Repayments are collected through small deductions from each daily settlement. This structure distributes the obligation over time instead of requiring restaurants to make a larger fixed monthly payment.
The model links repayment more closely to daily sales activity, making it better suited to the cash-flow patterns of restaurants. It also gives Foodics visibility into both operating performance and payment settlements through the same technology ecosystem.
Foodics Chief Financial Officer Abdullah Tahboub said access to capital has historically failed to reflect restaurants’ real performance. A business may report healthy revenue and strong growth yet still struggle to secure funding when it needs it most, he explained.
Tahboub said financing should move at the same pace as the business it supports. Capital 2.0 is intended to close that gap and turn access to capital into a growth tool rather than an operational constraint.
Expanding the Foodics Financial Ecosystem
Capital 2.0 forms part of a wider set of financial products Foodics presented at Money20/20. The company is also introducing expanded omnichannel payment services, new settlement capabilities and instant settlement options.
Foodics offered attendees an early look at the next version of its My Foodics application, which is evolving into a unified account for managing sales, liquidity, outstanding amounts and financing access.
These additions build on the company’s restaurant management platform, extending the range of operational and financial functions restaurants can manage within the Foodics ecosystem. By connecting sales information, payments, settlements and financing, Foodics is seeking to become a more central financial operating platform for restaurant businesses across the region.
MENA Startups
UAE-Based FinTech Company Al Ansari Exchange Tests Voice AI in Mobile App and Explores Agentic AI to Enhance Financial Services
The initiative forms part of Al Ansari Financial Services’ broader commitment to Dubai’s private sector transformation programme.
Al Ansari Exchange, a subsidiary of Al Ansari Financial Services PJSC (“The Group”) (DFM: ALANSARI), is testing artificial intelligence in its mobile app and exploring its use, as Dubai presses businesses to adopt more autonomous AI systems.
The initiatives are part of Al Ansari Financial Services’ participation in a Dubai government programme under which 11 Dubai-based companies pledged to integrate agentic AI into their operations with the support of Dubai Chambers.
Al Ansari Financial Services is assessing how AI could accelerate internal processes, such as compliance functions, in line with international best practices while meeting regulatory requirements and delivering a seamless, frictionless customer experience.
The group works with federal and local government entities, including the Central Bank of the UAE and Dubai’s Department of Finance, to support the transition towards a cashless economy.
“Our work with voice AI is a stepping stone towards more advanced applications, including agentic AI,” said Rashed A. Al Ansari, Group CEO of Al Ansari Financial Services. “AI will play an increasingly important role in customer service and internal processes. Our priority is to develop reliable, scalable solutions suited to a regulated financial business.”
“We work closely with the relevant UAE authorities to support national priorities and implement regulatory requirements across our operations. Guided by their leadership, we focus on delivering reliable financial services that meet customers’ needs,” Al Ansari added.
Ali Al Najjar, Chief Executive Officer of Al Ansari Exchange, said: “We have implemented voice AI in our app to help customers navigate services and complete routine tasks more easily. Our operational focus is on accuracy, clear guidance and access to our customer service team whenever personal assistance is needed.”
The AI work builds on a digital base the company has been expanding as Dubai moves away from cash. Digital channels accounted for 27% of total value of remittances at Al Ansari Exchange in 2025, up from 23% in 2024. A growing share of customer activity on digital channels widens the scope for tools such as the voice feature now in its app.
That shift mirrors the emirate’s wider progress. Dubai Finance said on October 9 that Dubai’s cashless transactions index reached 90.1%, passing the 90% target set for 2026 under the Dubai Cashless Strategy launched in October 2024.
The strategy’s final report credited partnerships among government entities, financial institutions and payment providers, and said cashless payment initiatives had contributed more than AED 8 billion to the emirate’s economy.
MENA Startups
Saudi-based AI Startup Cycls Launches Specialized AI Agents to Automate Business Tasks and Support Local Market Needs
to help individuals and businesses across Saudi Arabia streamline daily operations and accomplish tasks more efficiently.
Cycls, a Saudi AI platform, has introduced a team of specialized AI agents designed to help individuals and businesses across Saudi Arabia streamline daily operations and accomplish tasks more efficiently.
AI no longer just answers questions and makes suggestions. It now executes complete tasks: researching, gathering information, analyzing, and delivering ready-to-use outputs. This is where
Cycls offers an experience that goes beyond traditional AI conversation. Instead of just receiving an answer, users can assign agents multi-step tasks: researching, browsing, analyzing, organizing information, and preparing final outputs.
Founded in 2021 by engineers Mohammed Alrujayi and Mohammed Alogayyil, Cycls has delivered specialized AI projects for government, private, and non-profit sectors. This experience now powers a growing family of intelligent agents built for diverse needs, with deep understanding of the Saudi context and local market requirements.
Cycls has also built sovereign cloud infrastructure within Saudi Arabia, giving individuals and organizations direct access to AI with models and data hosted inside the Kingdom.
Super: Get any work done
Super is the versatile agent you can rely on for diverse tasks requiring research, browsing, analysis, and file creation.
For example, a founder might ask Super to prepare a preliminary study for a new market. The agent searches for relevant information, gathers and compares data, then organizes findings into a report or presentation that helps the founder understand the market and make informed decisions. Super also handles files, analyzes data, and prepares documents, presentations, and dashboards, while connecting to supported systems and data sources, allowing users to complete multiple stages of work through a single experience.
The experience extends beyond the current task: Cycls saves and organizes information within workspaces, making it accessible and reusable for future tasks.
Haseef: An expert in Saudi law
Legal work can be slow. Reviewing a contract or researching a statute often means navigating multiple laws, regulations, and official sources. This is where Haseef comes in, the AI agent specializing in Saudi law, helping users research legislation, regulations, decisions, and judicial precedents, understand legal texts, and draft and review documents.
A business owner might upload a commercial contract and ask which clauses deserve closer attention or what legal requirements apply to a particular provision. Haseef can analyze the wording, explain the points that warrant review, and refer the user to relevant legal sources.
It also drafts contracts, agreements, policies, and legal memoranda, organizing associated information and references, serving as a support tool for professionals and individuals alike, while professional review remains essential depending on the matter.
Badee: A full-service marketing agency
From concept to content, design, and distribution, Badee combines the full range of marketing and creative tasks in a single intelligent agent, delivering an experience that mirrors working with a complete marketing agency.
A brand owner might ask Badee to prepare a campaign for a new product launch. The agent begins by understanding the product and target audience, then helps develop the creative concept and marketing messages, writes content, and prepares designs, images, and materials suited for different platforms. Its capabilities extend beyond content creation to include campaign planning, influencer recommendations, organizing marketing materials, and preparing and executing content for publication across supported channels.
Badee also creates, edits, and enhances images, with careful attention to Arabic language and Saudi cultural context, helping brands and content creators move from idea to execution within a seamless experience.
Namaa: Your agent for the Saudi stock market
Financial markets move constantly, and the information investors need is scattered across prices, technical indicators, company announcements, financial statements, and reports. Namaa, the agent specializing in the Saudi stock market, helps gather, analyze, and present this information in a clearer, more accessible form.
A user might ask for a comparison of two listed companies over a specific period. Namaa analyzes available financial data, compares revenues, profits, and relevant indicators, then organizes findings into a report that clarifies the differences. It also provides analysis of stock movements and technical indicators, tracks company announcements and news, and covers data from both the Main Market and the Parallel Market (Nomu).
Namaa helps users understand financial information and market trends, without replacing independent investment judgment or specialized financial advice.
Cycls on the go
The Cycls app, on the App Store and Google Play, lets users start tasks, pick up where they left off, and check progress on the go, while agents keep working in the background.
Sabtiah: Saudi Arabia’s largest AI community
Every Saturday, developers, entrepreneurs, researchers, and AI enthusiasts gather at Cycls’ headquarters in Riyadh for Saudi Arabia’s largest dedicated AI community. Named after the day it meets, following the Arab tradition of weekly gatherings, Sabtiah is a space to share knowledge, discuss the latest developments, showcase new projects and ideas, and build relationships across the field. Conversations continue long after each session, with members exchanging opportunities and expertise throughout the week, deepening Cycls’ role in growing the Saudi AI community.
Saudi AI, beyond answers
Cycls brings together a family of specialized agents with one goal: turning AI from a tool for passing answers into a tool for real accomplishment.
As the company develops its platform and expands its range of agents, its focus remains on the practical needs of individuals and businesses. That means understanding the laws, markets, language, and culture that shape their work.
MENA Startups
UAE-Based AdTech Startup JustAd Secures $5M Investment to Expand AI-Powered Advertising Platform Into New Markets
Dubai-based JustAd has secured $5 million from angel investor Emad Juma to support its international expansion and develop its AI-powered advertising platform, which combines campaign management, analytics and flexible advertising financing.
JustAd operates a unified advertising platform that enables businesses to plan, launch, monitor and optimize campaigns across major digital networks, including Meta, TikTok, Snapchat and Google Ads. Its technology combines AI-powered campaign analytics, return-on-investment tracking, product catalogue integrations and consolidated reporting, allowing advertisers to manage multiple channels through a single interface.
The company has also developed an advertising financing model called Advertise Now, Pay Later (ANPL), which enables businesses to launch campaigns immediately while spreading advertising payments over installments of up to 12 months. The model is designed to address cash flow challenges faced by small and medium-sized advertisers, allowing them to maintain marketing activities without paying their full advertising budgets upfront.
JustAd Secures $5M to Accelerate International Expansion
The $5 million investment from Emad Juma will support JustAd’s expansion beyond its established markets in the MENA region. The company plans to establish local sales and customer support teams in its target markets while adapting its products to meet different business requirements and strengthening partnerships with major global advertising platforms.
As part of its expansion strategy, JustAd intends to enhance its AI-powered advertising technology and develop additional capabilities tailored to local market needs. The company expects to begin onboarding customers in its new markets in early 2027, although it has not disclosed the specific countries included in its initial expansion plans.
The investment will also support the company’s efforts to position its platform as an integrated solution for businesses seeking to manage advertising operations, monitor campaign performance and access financing through a single digital ecosystem.
AI-Powered Platform Integrates Advertising Management and Analytics
JustAd’s platform brings together campaign planning, execution and performance measurement across multiple advertising networks. By integrating Meta, TikTok, Snapchat and Google Ads, the company enables advertisers to coordinate their digital marketing activities without switching between separate platforms.
The system uses AI-powered analytics to help businesses evaluate campaign performance, track advertising returns and identify opportunities for optimization. It also includes product catalogue integrations and unified reporting tools, providing advertisers with a consolidated view of campaign results across different channels.
This approach is designed to simplify advertising operations for businesses managing campaigns across several platforms, while helping marketing teams make decisions based on performance data. By combining campaign management and analytics, JustAd aims to reduce operational complexity and improve visibility into advertising expenditure.
Advertise Now, Pay Later Offers Flexible Financing for SMEs
One of JustAd’s core products is its Advertise Now, Pay Later model, which allows businesses to run advertising campaigns immediately and pay their advertising budgets in installments over periods of up to 12 months.
The financing solution targets cash flow challenges that can limit advertising activity among small and medium-sized businesses. Rather than requiring advertisers to cover their entire campaign budgets upfront, the model provides a payment structure intended to help companies maintain campaigns while managing their available working capital.
JustAd delivers the service through approved advertising accounts managed by authorized agencies, alongside direct technical support for customers using major digital advertising platforms. The arrangement combines advertising account management, campaign execution and financing within the company’s broader technology offering.
By integrating ANPL with its advertising management and analytics tools, JustAd is developing a model that connects advertising technology with financial services. The company positions this combination as a specialized FinTech solution for the advertising industry, bringing campaign management, performance measurement and advertising financing into one platform.
JustAd Targets New Markets in Early 2027
Following the investment, JustAd plans to expand its operations by building local commercial and customer support teams, developing market-specific products and strengthening relationships with global advertising networks.
The company expects to start accepting customers in its new markets in early 2027, marking the next stage of its growth strategy beyond MENA. Its expansion will focus on making its integrated advertising platform accessible to businesses seeking centralized campaign management and more flexible advertising payment options.
With $5 million in new funding, JustAd aims to scale its AI-powered marketing infrastructure while extending its Advertise Now, Pay Later offering to additional markets. The investment supports the company’s broader strategy of combining advertising operations, analytics and financing to address the needs of businesses managing digital marketing campaigns.
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