COFE raises Series C at $178M valuation, three years after last round
What's the deal? COFE App has raised a Series C round led by Wa'ed VenturesDealroom has a profile for this one. Try Dealroom →, the AramcoDealroom has a profile for this one. Try Dealroom →-backed venture capital arm, at a valuation of roughly $178 million. The deal was announced in September 2026. The amount raised and other participating investors remain undisclosed, leaving the $178 million valuation as the headline figure.
Why now? The round arrives more than three years after COFE's last disclosed funding — a $15 million Series B in March 2023, also led by Wa'ed Ventures. Wa'ed's return marks continuity, but the bigger story is what has changed inside the company between rounds.
What's the endgame? COFE has shifted from a coffee-ordering platform to a broader digital model. It now sells coffee beans, capsules, and brewing equipment alongside ordering and delivery, and has added subscriptions, loyalty programs, and e-commerce.
From user to brand: A key strategic move is COFE's expansion beyond end consumers to offer tools and services for companies and brands. Using its tech infrastructure, user base, and store network, it aims to build multiple revenue streams rather than relying mainly on order commissions.
The company is also deploying artificial intelligence and software agents across growth, marketing, and commerce operations.
Saudi Arabia as anchor: COFE entered the Saudi market in 2020 and has since deepened its presence through local partnerships, including a tie-up with Saudi Coffee CompanyDealroom has a profile for this one. Try Dealroom →, backed by the Public Investment FundDealroom has a profile for this one. Try Dealroom →. The kingdom gives COFE exposure to a growing coffee sector and proximity to a strategic investor in Wa'ed Ventures.
Beyond Saudi Arabia, COFE operates across Kuwait, the UAE, and Turkey, part of a strategy to build a regional coffee platform.
Shifting ownership: The round coincides with changes among investors. In July 2026, Al Imtiaz GroupDealroom has a profile for this one. Try Dealroom → announced a full exit from its stake in Cofe District App Holding LtdDealroom has a profile for this one. Try Dealroom → for about $12.58 million — a $2 million in-kind contribution and $10.58 million in cash, per its disclosure.
The signal: COFE's raise reflects a bet that a coffee-ordering app can evolve into digital infrastructure spanning e-commerce, consumer services, and brand tools. The move repositions its competition away from delivery apps and toward the intersection of commerce and merchant technology.
Image credit: star5112
