Serial entrepreneur Zeid Husban learned the operational cost of a messy cap table when it came time to exit. At SPICE, he chose Zest to do it right: dozens of angels consolidated into SPVs and a smoother path to his next exit.

About Zeid Husban and SPICE

Zeid Husban is no stranger to building successful companies. A serial entrepreneur with two exits behind him, he is today the co-founder and CEO of SPICE, a premium dining and restaurant-tech platform launched in Saudi Arabia. 

Along the way, Zeid learned firsthand the headaches that come with raising capital. That experience shaped how he approached fundraising at SPICE - and why he chose Zest to structure his fundraising vehicles.

Chasing Every Signature

When Zeid exited his last company, closing the deal meant tracking down signatures from every shareholder, one by one.

Zeid's first company, ifood.jo, Jordan's first food-ordering aggregator, never raised outside capital. Instead, Zeid self-funded the company through to its acquisition by Delivery Hero. But when it came time to build his second company, POSRocket, a cloud point-of-sale platform, Zeid needed capital for growth. He raised funds from angels and venture capital firms before exiting in 2022.

That second exit is where the hard lesson was learned - closing a deal meant chasing signatures from every shareholder, one by one.

"In an acquisition, time is your worst enemy. We're chasing everyone to sign the SPA and the shareholder agreement. The logistics of trying to follow up with everyone - for me, it's very hectic." - Zeid Husban, Co-founder & CEO, SPICE

By the time Zeid started raising for SPICE, he knew he didn’t want to repeat his last fundraising mistake. Angel capital would come in through SPVs, and the cap table would stay clean from day one.

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