Dubai-based COFE completes $10m funding round, with potential IPO brewing

Dubai-based COFE completes $10m funding round, with potential IPO brewing

The founder of Dubai-based online marketplace COFE has revealed the start-up could be taken public within the next five years.

The platform, which placed among the top five start-ups in the tech innovation category at the London Coffee Shop Innovation Expo, has grown from strength to strength since its official launch in November 2018, and this month completed a Series-B funding round, raising $10 million.

The financing was provided by Al Imtiaz Investment Group, a leading Kuwaiti investment house listed on the Boursa Kuwait.

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Ali Al Ebrahim told Arabian Business: “We want to be the number one daily app for everything coffee, not on a regional level, on a global level. It's a new concept, it's a new business model we're introducing and we're hoping this can be used again in the States, in Latin America, in Asia, Europe and other markets.

“I think, five years from now, if we're looking for an IPO, if we're looking for a big growth rounds, [Al Imtiaz] are the right partner to take us. I think that's one of the decisions why we went to Al Imtiaz already, who are stock exchange-listed, they