COFE Tech closed a pre-IPO round at a $178M valuation, co-led by Aramco’s venture arm Wa’ed Ventures and Aditum Investment Management, without saying how much it raised. Founded in Kuwait in 2018 as a coffee ordering marketplace, the company now sells procurement and commerce software to businesses, with AI agents that forecast demand, run purchase orders through approval, watch inventory levels, and handle e-invoicing, plus a BNPL product called COFE Pay. COFE Tech says it serves over 1,000 enterprise customers across 3,000 locations in Saudi Arabia, Kuwait, and the UAE, naming Emirates, Etihad Airways, and Aramco among them. It is targeting a listing on the Saudi Exchange by 2029, and last raised a $15M Series B in March 2023, also led by Wa’ed.
