COFE APP continues on its steady trajectory of expansion with yet another acquisition in the online Coffee transaction space. After acquiring Sippy Beans earlier this year, COFE APP has announced its acquisition of Coffee-ordering online platform Kaffeen coming out of Saudi Arabia.
Request specific data sets, export tailored directories, and explore the full potential of our Platform. Reach out to our Sales Team
Online coffee marketplace COFE App recently announced the acquisition of Kaffeen(Bean Creator IT), a popular online coffee ordering platform from KSA. Coming hot on the heels of the Sippy acquisition in January this year, the acquisition of Kaffeen is a result of an extensive study of the e-commerce market, its direction, and the impact of the pandemic on consumer behavior.
Founded in 2018, by brothers, Hassan & Hashem Aljawad. Kaffeen has focused on easing the ordering and payment process for instore customers, enabling them to shorten the distance between them and their daily cuppa through counter pickup services. Much like COFE’s own ethos that believes in helping people spend more time with their coffee instead of waiting for it, Kaffeen since its inception has succeeded in creating a loyal fan-following amongst coffee-lovers in the Kingdom. With Convenience through e-commerce being one of the top trends to come out of the pandemic, according to KPMG’s Coffee in 2021 report ‘Prepare for Takeoff’ - consumers appreciate the need for convenience given health concerns and social distancing standards, which while laxed as we move into a post-COVID world are lasting trends in consumer evolution.
MENA has recorded 16 Exits in 2022 to date traversing industries and strategic approaches. To put this into perspective, the 16 Exits closed in the first two months of 2022 are equal to total exits recorded in full-year 2020 and mark a 300% increase compared to Q1 2021. On surface value, it seems like MENA-based startups are following a natural trajectory of consolidation, building on the staggering momentum of Exits in 2021. A deeper dive into the most anticipated Exits of 22’ YTD we observe the evident motivation of market expansion. To that effect, one great example could be KSA-based and GCC prevalent Foodics acquiring Jordan-based POSRocket earlier this year to consolidate markets as well as take a market leadership position in Egypt, Kuwait, Oman, and Jordan.
Access our suite of Full Year 2021 Reports covering MENA, Africa, Pakistan & Turkey. Browse our latest and pick your data focus
With pickup already being a key element in the bouquet of services COFE offers, since its very inception, it was only natural for the brand to combine forces with Kaffeen, reaching out to an even larger audience base, especially those across the Kingdom of Saudi Arabia. The acquisition will further facilitate COFE’s ambitious growth strategy, as the startup continues to expand its presence in the region. “For COFE we have always sought to create a collaborative ecosystem and our acquisition of Kaffeen is yet another step in that direction. We want to work with people who have the vision to change the way people access their coffee worldwide, and that passion is very strong with Kaffeen co-founders Hassan & Hashem Aljawad. With Kaffeen’s market expertise and experience on board, we are sure to reach out to even more coffee lovers across KSA and beyond,” stated COFE App Founder & CEO, Ali Al Ebrahim.
The acquisition of Kaffeen and Sippy Beans in the first quarter of 2022 are strong indicators that COFE is looking to strengthen its reach within the region, before proceeding to expand first to Egypt and then overseas later this year. Commenting on the acquisition, Kaffeen Co-Founder, Hassan Aljawad concluded, “We had launched Kaffeen with a mission to disrupt the online coffee market, and joining hands with COFE, I believe is the logical next step when it comes to bringing our mission to fruition. We are extremely excited about this acquisition and look forward to seeing us grow from strength to strength together.”
Check out with a cart full of insight. Browse 1,500+ E-commerce startups in MENA