COFE Tech takes undisclosed investment from Phoenix Venture Partners

COFE Tech, a Saudi Arabia-headquartered enterprise technology company, has secured an undisclosed investment from Abu Dhabi-based Phoenix Venture Partners. The deal closed earlier in 2026. Co-investors joined alongside PVP, among them KSH Investments, the international investment platform of the Private Department of Sheikh Mohamed Bin Khalid Al Nahyan. Neither the size of PVP's commitment nor the total raised was made public.

PVP is a venture capital fund manager regulated in Abu Dhabi Global Market. Its investment in COFE Tech, whose legal entity is COFE District LLC, came through Phoenix Venture Partners Innovation Fund CEIC Limited, with co-investors drawn from that fund's existing investor base. KSH Investments is one of its notable backers.

Founded in Kuwait in 2018 by Ali Al-Ebrahim, COFE Tech was previously known as COFE App. It builds AI-driven procurement and commerce infrastructure and now runs two core business lines: Agentic Procurement, a unified enterprise procurement engine, and Agentic Commerce, an enterprise technology infrastructure solution. A direct-to-consumer e-commerce business operates alongside them.

The company serves more than 1,000 business clients across 3,000 outlets in Saudi Arabia, Kuwait and the UAE. Its customers span aviation, hospitality, retail, food and beverage, and corporate segments. In the UAE they include Emirates Airlines, Etihad Airways and Al-Futtaim Group. The company has been described as the "Salesforce of MENA."

Steve Khayat, founder and chief executive of PVP, has joined COFE Tech's board as the firm's representative. His involvement with the company dates back further: PVP backed COFE Tech at the pre-Series A stage in 2018. The board seat is intended to support expansion, corporate governance and preparation for a public listing.

That listing is targeted for 2029. The investment follows a pre-IPO funding round COFE Tech closed at a valuation of $178 million. Khayat said he had backed the company from its earliest days and had watched it grow into a category-defining player, describing it as the kind of platform PVP looks for, one that starts with a simple, high-frequency consumer need and expands into a deeply integrated ecosystem. He said he looked forward to working with Al-Ebrahim and the team on the next phase.

Al-Ebrahim said Khayat had been part of the company's journey since the early days and that the continued support reflected confidence in its vision and execution. He said COFE Tech intends to draw on PVP's experience in scaling businesses and navigating pre-IPO readiness as it works to build the company into a global technology platform, and welcomed Khayat to the board.

Dr. Ahmed Mansour, chief executive of KSH Investments, said the firm was pleased to back COFE Tech alongside PVP and called the company's technology transformative for commerce and procurement. He said KSH was confident in its growth trajectory and in its contribution to the UAE's standing as a hub for innovation and the new economy.