COFE Tech Reaches $178M Valuation

COFE Tech is trying to move beyond consumer ordering into a broader commerce and procurement infrastructure story. Its pre-IPO financing shows how regional platforms can reposition themselves as enterprise software companies.

What happened

COFE Tech, formerly COFE App, announced a pre-IPO investment valuing the company at $178M. The round was co-led by Wa’ed Ventures, Aditum Investment Management, Masarrah and Alyasra ahead of a planned Saudi IPO.

The company describes itself as an operator of agentic AI enterprises and provider of intelligent procurement and AI-powered commerce infrastructure for more than 1,000 businesses across the Gulf.

Why it matters

Marketplace and consumer-app companies often face pressure to expand into higher-margin software or infrastructure. COFE’s shift toward procurement and commerce infrastructure could make the business more defensible if it can convert merchant relationships into workflow software.

The pre-IPO structure also points to a regional capital-market route for Middle East technology companies.

The bigger picture

The MENA tech ecosystem is building more companies that bridge consumer distribution, enterprise software and public-market ambitions. COFE’s next test is whether its AI and procurement positioning represents a genuine enterprise platform, or a narrative wrapped around an existing commerce business.