Here's how ZUS Coffee plans to spend its $57.7m raise
The fresh funds will be used to reignite international expansion.
ZUS Coffee has secured $57.7m (MYR250m) investment from an investor consortium comprising KV Asia Capital, Kumpulan Wang Persaraan (Diperbadankan) (“KWAP”), and Kapal Api Group.
Ian Chua, Founder and Chief Executive Officer of ZUS Coffee said they plan to use the fresh funds to fuel its international expansion plans as well as move into new verticals like FMCG.
“With our shared tech-driven approach, we are committed to making specialty coffee accessible, affordable, and exciting. Our vision is to establish ZUS Coffee as a globally recognised Malaysian brand, sharing Malaysian’s commitment to quality and community to coffee lovers worldwide,” Chua said.
Currently, the brand is eyeing to debut in Singapore and Brunei before the end of the year.
Aside from that, the brand will also use some of its fresh funds to push more products in the FMCG space. Earlier this year, ZUS Coffee launched its halal canned sparkling coffee COFFIZZ. The brand is also testing a new concept called “Coffee Meets Pastry”. According to the brand, this is a concept where patrons can enjoy high-quality coffee paired with creative pastries in a vibrant and interactive environment.
According to ZUS Coffee, it operates 600 outlets in Malaysia and 50 in the Philippines. The brand recently celebrated its anniversary.
