Spice

What Spice does

Spice is a Saudi Arabia-based mobile platform operating in the dining rewards and payments space. The company, headquartered in Riyadh, develops the SPICE mobile application, which enables users to discover curated restaurants, make reservations, pay dining bills in-app via bill number entry, and earn 20% unlimited cashback with no caps on earnings. The platform targets frequent diners seeking premium dining experiences and a curated selection of fine-dining and premium restaurant partners across Saudi Arabia. Bilingual support (English and Arabic) positions the product for the KSA market.

The core technology stack is a mobile-first platform with integrated payment processing and an AI-driven personalization engine for restaurant recommendations. Spice does not directly handle card credentials; payment processing is delegated to third-party providers, including MoneyHash as the trusted payment processor and Apple Pay as an integrated wallet option. Authentication supports phone number, email, Apple ID, and Google ID onboarding, with sign-up via app store download providing a fully self-serve, product-led experience. A 'Handpicked Collection' of premium restaurant partners is positioned as an upcoming sub-product aimed at KSA's culinary scene.

The business model is transaction-fee based: Spice charges restaurants a fee for payment processing through the app, and these fees fund the 20% cashback paid to users. Diners face no subscription or usage fees, operating a freemium, pay-as-you-go model. Customer acquisition relies on app store distribution, social media presence (Facebook, Instagram, TikTok), and a structured referral program rather than direct sales. The customer base is two-sided, with diners as the primary persona segment and premium restaurants as the business-unit counterpart.

Name

Spice

Legal name

Spice

Website

https://getspice.com

Company type

Private

Founded year

2025

Operating status

Operating

Headcount range

11–50 employees

Short description

Spice is a Saudi Arabia-based mobile dining rewards platform enabling restaurant discovery, seamless in-app bill payment, and 20% unlimited cashback rewards, targeting premium restaurants and frequent diners with AI-driven personalization and curated content.

Ownership category

akta.pro rank

Product category

Mobile Dining Rewards & Payments Platform

NAICS

Limited-Service Restaurants (722513)

SIC

Retail-Eating & Drinking Places (5810)

akta.pro primary industry

BNPL Consumer Apps & Wallets (Discovery, Management) (FSAGAIAG)

Keywords

• Dining rewards platform
• Mobile payment app
• Restaurant cashback rewards
• Curated restaurant discovery
• AI restaurant recommendations

Headquarters

HQ city

Riyadh

HQ country

Saudi Arabia

HQ region

Middle East

Offices1 record

Markets served

GTM type

B2C

Offering type

Software

Cost components

Technology or R&D, Operations, Marketing or Sales, Personnel, Infrastructure

Revenue model

1. Transaction Fees from Restaurants: SPICE charges restaurants a fee for processing payments through the platform. When users pay via the app, the company earns a percentage of each transaction. This is the primary revenue stream that enables the 20% cashback rewards to users.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Spice operates a mobile-first dining rewards and payment platform targeting diners in Saudi Arabia. Users discover curated premium restaurants, reserve or walk in, enter their bill number in-app to pay, and instantly receive 20% cashback rewards with no caps. Revenue is generated from transaction fees paid by partner restaurants on each payment processed through the app.

Product overview

SPICE is a unified restaurant rewards and payments platform combining three core functions: restaurant discovery and curation, in-app dining payments, and a 20% unlimited cashback rewards program. The main SPICE App serves as the core product, enabling users to discover curated restaurants, reserve or walk in, enter bill numbers to pay in-app, and earn instant cashback. The Unlimited Rewards feature represents the key monetization mechanism, offering 20% cashback with no caps. The Handpicked Collection (launching soon) is an upcoming sub-product featuring premium restaurant partnerships in Saudi Arabia, positioning the platform as a curated dining experience rather than a broad marketplace.

Differentiator

Problem solved

Functional benefit

Products and services

• SPICE App Mobile application for individual diners in Saudi Arabia that enables restaurant discovery from a curated premium selection, reservation or walk-in dining, in-app bill payment by entering a bill number, and instant 20% cashback rewards with no caps.
• Unlimited Rewards (20% Cashback) Reward program offering 20% instant cashback on all restaurant payments made through the SPICE app, with no maximum cap and flexible spending of earned cashback.

Quantifiable outcome

• 20% cashback rate with no maximum cap

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

AI capability2 records

Feature3 records

Partnerships

Two partnerships are on record, tiered core.

• MoneyHashcoreTechnology or IntegrationTrusted payment processor that handles transaction processing securely. SPICE does not store full credit card details - MoneyHash manages secure payment completion. Listed as a trusted partner for payment processing alongside Apple Pay.
• Apple PaycoreTechnology or IntegrationIntegrated payment method allowing users to pay with Apple Pay. Payment information is processed directly by Apple. SPICE does not have access to users' credit card details when Apple Pay is used.

Scale indicators1 record

Recent moves6 records

Expansion highlights5 records

Direct peers

• Mrsool: On-demand delivery and courier platform widely used in Saudi Arabia for restaurant and parcel delivery. Comparable to Spice as a Saudi-centric diner-merchant platform with its own payment flow and growing consumer-engagement features.
• Jahez: Leading Saudi food delivery and quick-commerce platform with logistics and payment capabilities across the Kingdom. Highly comparable to Spice because it sits between Saudi diners and restaurants with payment, restaurant discovery, and loyalty mechanics that overlap with Spice's proposition.
• Resy: Restaurant reservations and dining rewards platform owned by American Express, focused on premium and curated venues. Comparable to Spice given its shared emphasis on curated premium restaurants, in-app payments, and diner rewards/loyalty.
• HungerStation: Major Saudi food delivery platform owned by Delivery Hero, serving diners and restaurants across the Kingdom. Comparable to Spice as a Saudi-based two-sided dining platform where payments, restaurant discovery, and consumer engagement sit at the core of the offering.
• The Entertainer: MENA-based lifestyle and dining discounts/rewards app offering 2-for-1 and percentage-off deals at restaurants. Comparable to Spice because it monetizes restaurant partnerships through consumer rewards, directly overlapping with Spice's premium-cashback and curated-restaurant positioning.

Broad incumbents

• OpenTable: Global restaurant-discovery and reservation platform with embedded payments and diner rewards. Comparable to Spice because discovery, reservations, and in-app payments are its three core flows — directly mirroring Spice's discover-experience-pay-reward funnel.
• Noon Food: Noon's quick-commerce / food delivery arm in the Middle East, part of a broader e-commerce super-app. Comparable as a regional incumbent offering restaurant ordering and payment integration across MENA, applying competitive pressure on Spice's Saudi dining wallet position.
• Careem: Dubai-based super-app for ride-hailing, delivery, and payments across the Middle East, owned by Uber. Comparable as a MENA super-app where payments, restaurants/dining, and consumer rewards coexist — a long-term competitive threat to Spice should it expand its wallet ambitions.

Emerging players

• LoyalZoo: Digital loyalty platform for independent restaurants, including cashback and rewards programs. Comparable as an emerging SaaS-style player enabling restaurants to run cashback/wallet rewards similar to what Spice offers diners through its app.

Regional players

• Talabat: Leading MENA food delivery and restaurant ordering platform operating across multiple GCC countries including Saudi Arabia. Comparable to Spice as a regional dining platform with payments infrastructure and restaurant partnerships, though its primary markets are not all overlapping with Saudi-only Spice.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/spice-experience

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Spice