Kuwaiti investment house invests $10 million in COFE to support expansion plans

SourceSME10X
SectorEconomy
CountryKuwait

Online marketplace, COFE, has raised $10 million in Series-B funding from Al Imtiaz Investment Group, a Bourse-listed Kuwaiti investment house. The financing will be used to support vendor and customer acquisition in COFE’s operational markets including Kuwait, Saudi Arabia, the UAE and the UK, in addition to its expansion in Egypt and Turkey. The coffee marketplace will also use the funds to hire and build specialized teams in each of its markets and launch new products for partner vendors and baristas.

Coffee and tea are the second most popular beverages in the world behind water, with the global coffee market currently valued at $380 billion and the MENA region alone accounting for $44 billion of that figure.

This represents a significant opportunity for the, which recently sold its one millionth cup of coffee and announced today that it.

COFE Founder, Ali Al Ebrahim commented, “From early days, we have shown tremendous potential as a unique offering that caters to discerning coffee...read more...