| Netherlands

Dutch ethical coffee brand Wakuli receives fresh investment

Dutch investment bank ABN Amro is investing in subscription-based specialty coffee brand Wakuli as it seeks to grow its ethical coffee sourcing programme

Wakuli has acquired more than 40,000 customers since starting its doorstep-delivery brand in 2019 | Photo credit: Wakuli


 

Dutch coffee company Wakuli has received funding from the investment bank ABN Amro as the coffee subscription company pursues new growth opportunities in Europe for its ethical, direct trade sourcing and roasting business. 


The doorstep-delivery coffee brand, which has acquired more than 40,000 customers since forming in 2019, says its model ‘cuts out the middle-men’ through direct trade and direct-to-consumer delivery and pays coffee farmers an average of two-to-three times more than Dutch supermarket coffee brands. 


The specialty coffee start-up is planning to use undisclosed funding from its latest capital round to innovate products and expand its distribution network in the Netherlands and other European countries, including Germany and Belgium. Wakuli has also received new funding from existing shareholder Rubio Impact Ventures. 


“Wakuli is a successful, rapidly growing company that's ready to enter the next phase. We're delighted to provide them with the funding and expertise they need to seize these growth opportunities... Wakuli contributes directly to better living conditions for farmers. And their other goal, to work towards a better value chain, marks a necessary step in the transition to a more social and sustainable economy,” said Hanna Zwietering, Senior Investment Manager, ABN Amro SIF. 


ABN AMRO’s has history in investing in coffee projects. In 2019, the bank joined Rabobank and BNP Paribas in a project supporting smallholder coffee farmers in Kenya, Honduras and Mexico. It also partnered with US investor Root Capital to support 4,000 coffee farmers in Latin America. 


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