Amsterdam’s Wakuli aims to change the f*cked-up coffee industry; bags €5.2M to do so

|

|

Last update:

Amsterdam-based Wakuli, a company offering high-quality specialty coffee, has secured €5.2M in a Series A round of funding. This includes the sale of new shares and a €750K loan.

The round was led by Icecat Capital, along with existing shareholders Rubio, ABN AMRO Sustainable Impact Fund, and angel investor Arnoud Aalbersberg. The €750K loan comes from Rabobank’s startup and scale-up team.

Martijn Hoogeveen, from Icecat Capital, says he is leading this investment because he sees the success of Wakuli’s strategy firsthand. “I saw that it was immediately busy at the opening of the new location on Amtelveenseweg in Amsterdam. That’s not often seen with new concepts in the streetscape.”

Hoogeveen, a software and e-commerce investor, sees that brands combining online and physical presence outperform those solely focused on one or the other. 

“Especially with the increased customer acquisition costs in recent years, it’s wise to think more broadly about the customer journey and involve both physical locations and online marketplaces. Additionally, the social impact element and the good taste of specialty coffee resonate with a broader trend,” adds Hoogeveen.

What is specialty coffee?

“Specialty coffee” refers to the entire journey of coffee beans, from single-origin beans, through farming, to the skilled hands of the barista. 

Coined by Erna Knutsen in 1974 and recognised by the Specialty Coffee Association of America (SCAA), it denotes coffees scoring at least 80 points in quality during tasting on a scale of 100 points.

Wakuli says, “Specialty coffee is a long-term process that can exist when everyone involved in the coffee chain works harmoniously together and maintains a sharp focus on standards and excellence, from the farm to the cup.”

Paying farmers fairly

Founded in 2019 by Lukas Grosfeld and Yorick Bruins, Wakuli aims to make specialty coffee a household choice. This will expand the market for smallholder coffee producers and boost their position among larger coffee companies, equating to revenue and development advantages for farmers as well.

Wakuli sources coffee beans directly from smallholder growers in 15 countries and roasts them using eco-friendly methods. By shortening the supply chain, the company delivers fresh specialty coffee at competitive prices.

According to Wakuli, specialty coffee is the only way for farmers to achieve a decent income. 

Co-founder Grosfeld says, “We pay for and invest in quality with our partners. This is a different philosophy than simply offering a small premium above the commodity price, as is customary with certifications like Fair Trade.”

Specialty coffee is often costly, making it hard for many people to afford for everyday consumption. “We want high-quality, specialty coffee to be available and particularly attractive to a larger group of people.”

“We want to move away from the niche where specialty coffee has been for years. Because real impact through quality can only be achieved if many people come on board. That’s why we’re happy to help people get serious about coffee at home,” adds Grosfeld.

Wakuli claims to establish lasting partnerships with farmers, paying them more, which allows them to invest in their farms for a better income and sustainable livelihood.

Capital utilisation

Wakuli’s growth plan combines online and physical coffee bars, following an omnichannel strategy.

Co-founder Grosfeld says, “Opening a new store adds around 15,000 new customers. Additionally, website visits and conversions from that region also increase, resulting in a growth in online customers.”

“Conversely, we can derive from online data which cities and neighborhoods are interesting to open new locations in and can immediately activate people to come by, for example, through an email, during an opening.”

Wakuli has expanded with six stores in Amsterdam and one in Utrecht in the past 18 months, with plans for eight more openings this year. 

The company intends to continue this growth pace until 2025, using these outlets to introduce specialty coffee to a wider audience and gain market share.

Grosfeld adds, “We are currently selling online across border and will also open coffee bars in neighbouring countries in the coming years. It is important, however, to maintain focus on density.”

“You won’t see us expanding into five countries with a few locations in one year. We prefer to work region by region so that we truly gain significant market share and brand awareness.”

Topics:

Vishal Singh

Vishal Singh is a News Reporter and Social Media Marketing Lead at Silicon Canals. He covers developments in the European startup ecosystem and oversees the publication's social media presence. Before joining Silicon Canals, Vishal gained experience at the Indian digital media outlet Inc42, contributing to its growth with insightful content. Despite being a college dropout, his passion for writing has driven his career in journalism.

Partner eventsMore events

Current Month

02apr(apr 2)8:00 am04(apr 4)6:00 am0100 Europe 2025

Share to...