SPICE Debuts in Saudi Arabia, Transforming MENA Dining with Dining Capital

Every now and then, a startup pops up that doesn’t just want a slice of the market—it wants to change the recipe entirely. That’s exactly what SPICE is trying to do in the MENA dining scene. Fresh out of stealth mode, this premium dining platform has officially kicked off operations in Saudi Arabia, aiming to shake up how restaurants get funding and how diners discover top spots across the Gulf.

Behind the venture are familiar names in the region’s food-tech world: Zeid Husban, Wadi Hawi, and Yousef Sawalha. If those sound familiar, it’s because this trio built ifood.jo (later scooped up by Delivery Hero) and POSRocket (acquired by Foodics). You could say they’ve been around the block when it comes to tech for restaurants. This time, they’re diving into something they call “Dining Capital.”

Now, Dining Capital isn’t your regular investment route. Instead of piling debt or giving away equity, SPICE provides upfront growth capital with no strings attached—no repayments, no ownership dilution. In return, restaurants join the SPICE dining app, where high-value diners can discover curated venues, book tables, earn exclusive perks, and enjoy premium experiences. In short, it’s a win-win setup that tries to align the success of both eateries and diners.

Husban put it neatly, saying that SPICE was designed as a partner for restaurants rather than just another investor—someone who shares the risk as well as the reward. Having heard countless founders in Riyadh grumble about expensive marketing and rigid financing, I reckon this model could be spot on for the times. That said, whether it scales beyond premium venues remains to be seen; growing fast in F&B can be, well… a bit of a faff.

The trio behind SPICE aren’t new to the grind. They’ve spent over 15 years working closely with restaurateurs across the region, witnessing the highs and lows of hospitality life. Hawi described SPICE as “built by operators, for operators,” which feels quite authentic coming from people who know the industry’s blood, sweat and spices. On the tech side, Sawalha’s team is mixing AI with human intuition to personalise each user’s experience—learning preferences, moods, and even context so it all feels effortless.

Choosing Saudi Arabia as the launchpad wasn’t random either. The Kingdom has been making serious moves in hospitality and entertainment, and it’s become something of a tastemaker in the region. Husban, who’s returning to the Saudi market after years in other ventures, noted that the country’s ambition and pace of transformation made it an obvious first stop. I’ve seen the same energy through Arageek’s own work with startups here—it’s a place where ideas don’t just simmer, they boil fast.

SPICE’s early backers reportedly include a mix of regional hospitality and tech investors. The platform is currently invite-only and expected to announce its founding restaurant partners early next year. Expansion plans are already on the table, with the UAE and wider GCC—and even Europe—on the horizon within two years.

If all goes to plan, SPICE could very well reframe the economics of dining in the MENA region. And honestly, that’s something to be chuffed to bits about—even if, like me, you sometimes struggle to choose between shawarma and sushi on a Friday night. It’s definately a story worth keeping an eye on as the platform spices things up across Riyadh and beyond.

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