COFE, MENA’s premiere online coffee marketplace, raised $15 million in investment capital in a Series B funding round led by WAED Ventures. The Series B round also witnessed participation from eWTP Arabia Capital, Al Imtiaz Investment Group, KISP Ventures (KFH Capital) and Rasameel Investment Company.
The funds raised by the startup in its Series B round will focus on the brand’s e-commerce offering, furthering the company’s ambition to become a complete coffee solution provider. With strides made towards strengthening its position in the regional market, COFE is ready to expand internationally in the near future.
“The leadership and team of COFE have worked diligently over the years to achieve key milestones that have had clear contributions in propelling the regional coffee industry. We believe that COFE is ready to scale internationally into new markets and to further strengthen its market position and service offerings,” Saad Al-Bader, Al Imtiaz Investment Group Executive Vice President, said.
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