The startup plans to use the investment to support its expansion plans and add more cafés to their network.
Saudi Arabian coffee ordering startup Leap has gained a six-dollar-figure seed round investment, without disclosing the exact amount of the deal, according to MENA Bytes. The investment round was led by a Saudi angel investor. The startup will leverage the funds gained to add more cafés to their network as well as expanding to more cities in Saudi Arabia.
Established a year ago by four Saudi management consultants, Leap allows users to preorder their coffee from a diverse network of almost 50 cafes in Riyadh, Jeddah, Khobar, and Dammam. Users can pick up their orders from Leap’s dedicated pick-up stand and the option to pay via the app or cash upon receiving their order. The startup has gathered almost 12,000 users on their iOS and Android mobile-based apps.
“Leap was started by founders who faced a problem of waiting too long for their coffee. After realised the potential of the solution, we quickly launched into the market with one cafe and set out to perfect the order ahead process,” says Usman Nadeem, co-founder of Leap. “Now at nearly 50 cafes and with the help of our investment, we are confident of scaling fast across the major cities in Saudi Arabia and are also very excited to be launching some major cafes very soon,” he states.
Similarly, Kuwait’s COFE app has recently been named as one of Asia’s top 50 companies of 2019 by providing users a reliable and easy method to have their coffee delivered to them. Upon closing their Series A round, the online marketplace has been valued at $25 million, which goes to show the demand for new and efficient methods to innovate and showcase new product offerings, as well as the possibility for competition in the underrepresented market.
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