Friday, 03 December 2021 04:16 GMT

MBC GROUP SIGNS MEDIA DEAL WITH COFE APP TO PRIORITIZE INVESTMENT IN FORTHCOMING ROUND OF FUNDING


(MENAFN- Mid-East.Info) Dubai, United Arab Emirates: COFE App, the online coffee-centric marketplace announced a regional partnership deal with MBC GROUP today. The strategic partnership will see the 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, that has only heightened post pandemic.

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.”

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.”

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.

About COFE :

COFE App is an online coffee-centric marketplace conceptualised in Kuwait and developed in Silicon Valley, USA. A state-of-the-art application that provides quick access to a wide range of international coffee franchises and artisanal coffee brands through multiple premium services and features on one platform.

Officially launched in 2018, COFE App currently operates in Kuwait, KSA and UAE with Egypt, and further international expansion in the pipeline. The platform, which placed among the top five start-ups in the tech innovation category at the London Coffee Shop Innovation Expo, has grown from strength to strength since its official launch in November 2018, and completed a Series-B funding round in April 2021, raising $10 million.

MENAFN18112021005446012082ID1103198624


Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.