AMSTERDAM, The Netherlands – ABN Amro has announced an investment in Wakuli, a Dutch company offering high-quality specialty coffee to consumers in Europe through online sales. Coffee beans are purchased directly from smallhold farmers in 15 different countries and roasted using sustainable methods. By drastically shortening the supply chain from field to cup, Wakuli is able to offer fresh products at competitive prices in the specialty coffee market.
Meanwhile, the farmers benefit from considerably higher prices, which improves living conditions for them and their families. Wakuli also supports crop improvement to secure their future.
Speciality coffee market growing twice as fast as overall coffee market
In Europe, the market for specialty coffee is growing by 9% a year, versus a mere 4% for the coffee market as a whole. In the United States, this market is expanding by as much as 13%, with this high-quality coffee already accounting for more than half of all coffee sold there.
Wakuli’s mission is to make specialty coffee a kitchen staple, thereby opening up the market for smallhold coffee farmers and strengthening their position among the big names in the international coffee market. This translates into major structural improvements in farmers’ incomes and development.
Wakuli is ready for the next growth phase
Hanna Zwietering, Senior Investment Manager at ABN AMRO SIF: “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, What really interests us, though, is their impact. 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. The result is a strong synergy of commercial growth and impact.”
Lukas Grosfeld from Wakuli: “When our people first met the ABN AMRO SIF team in 2020, we felt the chemistry right away. We believe that relationships between investors and companies are rooted in trust and shared values. We were pleased to discover that ABN AMRO SIF’s long-term vision aligns perfectly with ours: we both hold the conviction that it’s all about long-term impact rather than short-term successes.”
Product innovation and wider distribution
ABN AMRO SIF is not the only party making an investment in this capital round, as we are joined by existing shareholders, Rubio Impact Ventures, and a number of angel investors. Wakuli is using this capital injection to innovate their products and to expand their distribution network in the Netherlands and other European countries, including Germany and Belgium.
