• STARTUPS •
By Hagar Omran
Ali Al Ebrahim cornered the Middle East’s devotion to coffee when he launched COFE App in Kuwait four years ago. Now, with $13.2 million in total funding and a new acquisition fueling expansion, the founder and CEO has got his sights on a global goal.
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If you’re a coffee-lover, you will recognize the joy that the sweet, warm aroma of your first cup brings as you reach for it in the morning—and you’re not alone. With deep roots in Middle Eastern culture, MEA’s coffee market was worth $10.5 billion in 2021, according to Ali Al Ebrahim, founder of Kuwaiti startup COFE App, making up 11% of the $95.4 billion global market. For him, when it comes to tuning into people’s need for coffee, the sky’s the limit. COFE App’s user base has quadrupled in the last year, according to the founder. “We had over two million downloads in the past six months,” says Al Ebrahim. “More than what we did over the last two years.” Customers can order and pay for their coffee via the mobile app and choose from multiple delivery options, including fast delivery to their office or home, counter pick-up, or a car pick-up service. Having officially launched in November 2018, the startup has since raised a total of $13.2 million from investors from two funding rounds: the first in February 2019, when it closed a $3.2 million Series A, and the second in April 2021, when it secured $10 million from the Kuwaiti Al Imtiaz F O R B E S M I D D L E E A S T.C O M
Investment Group in a Series B. Today, the app works with over 700 brands in more than 3,000 locations. COFE App currently operates in Saudi, the U.A.E., and Kuwait. It plans to launch in Egypt next. At the end of January 2022, COFE App expanded further by acquiring U.A.E.-based Sippy Beans for an undisclosed amount. Established in 2019 by cofounders Rafi Dikranian, Zouheir Fathallah, and Shehzeen
Ali Al Ebrahim “We are a marketplace for coffee, we’re not purely logistics or delivery.”
MARCH 2022
IMAGE FROM SOURCE
COFE APP
22
Thirsty For Expansion
