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The E-commerce ecosystem in MENA has grown by almost 40% in funding since 2020 despite MENA-based E-commerce startups closing 16% fewer deals. While B2B E-commerce platform connecting suppliers with retailers were amongst the most funded ventures this year, with startups like Egypt-based MaxAb as well as morocco-based Sle3ti and Chari.ma closing some of the largest rounds this year. However, sector-focused E-commerce startups also attracted investor attention with Egypt-based Breadfast specializing in delivering Fresh bread, and Kuwait-based Floward specializing in fresh flowers raising major rounds in 2021 YTD. One startup, Kuwait-based COFE App, is on the track to become a leading marketplace for coffee in the region; today they have announced a grand step in that direction.
COFE App, the online coffee-centric marketplace announced a regional partnership deal with MBC GROUP today. The strategic partnership will see MENA’s largest and leading media group support the digital application in achieving its ambitious growth strategy through MBC’s channels, digital platforms, and events. While the network will play a crucial role in adding scale and visibility to COFE’s impressive growth trajectory, this deal will also give MBC investment priority in COFE App’s future funding rounds.
COFE’s strategic collaboration with the MBC GROUP marks the first of a series of key partnerships that support the hyper-growth start-up to establish an even stronger footing in the beverage tech arena. Currently serving coffee lovers across UAE, KSA, and Kuwait, COFE App has changed the way people approach their daily dose of caffeine. Its success has been spurred by changing consumer habits like increased online purchasing, which has only heightened post-pandemic.
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This announcement came shortly after the Kuwait-based coffee pioneer announced a one-of-a-kind ‘ Discovery Points” outreach campaign incentivizing coffee lovers to try out new flavors. With this in mind, having a hyper-connected media partner and potential investor solidifies the startup’s position as MENA’s emerging hub for coffee.
Commenting on this crucial milestone in COFE App’s growth journey, Founder and CEO Ali Al Ebrahim said: “This partnership marks a pivotal milestone for the COFE brand. We truly believe we can become a market leader in the beverage technology space across the region and beyond, and can only reach our goal with the support of the vast network of channels and partners of the heavyweight MBC brand. We are delighted to enter into this long-term agreement and excited for what the future holds for COFE.”
COFE’s partnership with MBC will drive the growth and visibility of the mobile application to serve a greater number of audiences within the GCC and MENA, as the brand gears up to launch in Egypt in 2021, and into international markets like the United Kingdom by 2022.
The partnership with COFE App is part of MBC’s plan to actively explore new media and emerging types of content, services, events, and more to aid regional businesses in offering the most innovative and up-to-date products and services for customers. For his part, Fadel Zahreddine, Group Director of Emerging Media at MBC GROUP, commented: “MBC believes that innovation in responding to consumer behavior is the essence of entrepreneurial digital solutions. MBC is committed to supporting and elevating regional entrepreneurs through visibility.”
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