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Mid East Info
5 days ago
- Automotive
- Mid East Info
Parkin and CAFU Launch Region's First On‑Demand Fuel and Car Wash Service Across the Company's Parking Portfolio
Parkin Company PJSC 'Parkin' or the 'Company', the largest provider of paid public parking facilities and services in Dubai, has entered a strategic partnership with CAFU, a world leading on demand fuel delivery and vehicle services platform, to deliver convenient, value-added automative services directly to Parkin's customers across its parking portfolio. As part of the agreement, CAFU will offer on-demand fuel delivery and car wash services for vehicles parked at the Company's parking facilities. The collaboration forms part of Parkin's broader growth strategy to expand its integrated service offering. Parkin customers will be able to request fuel delivery or a car wash by clicking on the link sent through SMS / WhatsApp and, in the near future, directly through Parkin's mobile app, while CAFU users may continue to access the services via the CAFU app as usual. Beyond offering simplicity and convenience, delivering these services directly to customers will help reduce the need for multiple individual trips to fuel stations and car washes, helping to reduce traffic congestion and associated direct and indirect emissions. The pressurised wash system helps to reduce water consumption, reinforcing both companies' commitment to the UAE's Green Agenda 2030 and their role in driving a more sustainable future. Powered by a unified system integrating both platforms, the refuelling and car wash services are scheduled to launch on Thursday, 14 August 2025. The long-term agreement reflects Parkin and CAFU's shared commitment to innovation, digital integration and customer-centric service delivery. The partnership is expected to generate annual revenues of AED 5 to 7 million for Parkin, with no capital investment required, highlighting the strong commercial viability of the alliance. Eng. Mohamed Abdulla Al Ali, CEO of Parkin, commented: 'This unique partnership with CAFU marks a significant achievement in our mission to enhance the Parkin customer experience. By offering on-demand fuel delivery and car wash services, delivered directly to vehicles parked in our spaces, we are turning idle parking time into a moment of convenience. Expanding our portfolio of value-added services is a key pillar of our growth strategy and this collaboration reflects our commitment to delivering innovative, time-saving solutions that meet the evolving needs of our customers. The agreement serves to underscore our ambition to transform Parkin into an integrated, customer focused, mobility platform, powered by digital innovation and meaningful partnerships. We are proud to join forces with CAFU, a homegrown technology leader, as we continue to shape the future of urban mobility in Dubai.' Rashid Al Ghurair, Founder and CEO of CAFU, commented: 'At CAFU, we have never just been about fuelling cars. Our mission is to reinvent what it means to own one. Smarter. Simpler. Seamless. Partnering with Parkin takes that mission straight to where our customers already are, in the very heart of the city's parking network. Now, topping up your tank or getting your car washed to perfection is not another task on your to-do list; it happens while you are parked up at one of Parkin's locations. This is not just convenience, this is a much-needed step towards transforming urban car care into an effortless part of everyday life.' About Parkin Company PJSC: With a unique blend of operational excellence, technological know-how and enforcement capability spanning almost three decades, Parkin Company PJSC is the largest provider of paid public parking facilities and services in the Emirate of Dubai, with a portfolio of approximately 212k paid parking spaces, as at H1 2025. Parkin has a dominant position in relation to Dubai's on and off-street paid public parking market and a leading share of the overall paid parking market. Under a 49-year Concession Agreement with Dubai's Roads and Transport Authority (RTA), Parkin has the exclusive right to operate a portfolio of public on and off-street parking (c.189k spaces) as well as public multi-storey car parking facilities (c.3k spaces). Parkin also operates certain developer-owned parking facilities through partnership agreements across the Emirate (c.20k spaces) and provides barrierless, ticketless parking on behalf of Majid Al Futtaim across two malls. Additional revenue streams include enforcement, the issuance of seasonal permits, parking reservations and other commercial activities. By deploying state of the art digital payment solutions and intelligent parking management systems that utilise artificial intelligence and big data analysis, Parkin's customers successfully conducted 70m parking transactions in H1 2025. Dubai's parking operations were established in 1995 under the Dubai Municipality, before becoming part of the RTA in 2005. In December 2023, Parkin Company PJSC was established through the issuance of Law No. 30 of 2023, successfully completing its initial public offering (IPO) on the Dubai Financial Market in March 2024. About CAFU: CAFU is a world leading on demand fuel delivery and vehicle services platform. Since its launch in Dubai in 2018, CAFU has continued to drive innovation, champion convenience, and give back to its customers the most precious commodity of all – time. Recognised as a leading innovator in driving new delivery services in Fast Company ME's 2022 'Most Innovative Companies' list and ranked number one in the LinkedIn Top Startups List, CAFU continues to make life better through greater car connectivity, predictive-enabled features and innovation evolving the consumer experience and ease of use to make operating a car simpler and smarter. Beginning with on-demand refuelling, CAFU continues to disrupt the status quo, connecting customers to an ever-growing roster of convenience-driven services, including on-demand car washes, battery, tyre and engine oil change services delivered anytime, anywhere.
Hi Dubai
6 days ago
- Automotive
- Hi Dubai
Parkin and CAFU Launch Region's First On-Demand Fuel and Car Wash Service
Parkin Company PJSC, Dubai's largest provider of paid public parking facilities, has partnered with CAFU, a leading on-demand fuel delivery and vehicle services platform, to introduce the region's first fuel and car wash service directly at Parkin's parking locations. Under the agreement, vehicles parked in Parkin facilities can receive fuel delivery or car washing without leaving their spot. Customers will be able to request services through links sent via SMS or WhatsApp, and soon via Parkin's mobile app. CAFU users can continue to access the services through the CAFU app. The offering will launch on 14 August 2025. The initiative aims to enhance convenience while reducing unnecessary trips to fuel stations and car washes, helping to ease traffic congestion and cut emissions. CAFU's pressurised wash system also reduces water usage, aligning with the UAE's Green Agenda 2030 and supporting sustainable mobility solutions. The partnership is powered by a unified system integrating both platforms and is expected to generate AED 5–7 million in annual revenues for Parkin without requiring capital investment. It forms part of Parkin's strategy to expand its integrated service portfolio and transform into a customer-focused, digitally driven mobility platform. Eng. Mohamed Abdulla Al Ali, CEO of Parkin, said the collaboration reflects the company's ambition to offer innovative, time-saving solutions that turn idle parking time into added convenience. Rashid Al Ghurair, Founder and CEO of CAFU, noted that the partnership makes urban car care seamless by meeting customers where they are, transforming vehicle maintenance into an effortless part of daily life. By combining Parkin's extensive parking network with CAFU's on-demand service expertise, the partnership sets a new benchmark for mobility services in Dubai, offering a model that blends customer convenience, sustainability, and digital integration. News Source: Dubai Media Office
Khaleej Times
27-04-2025
- Business
- Khaleej Times
UAE listings to get more diverse with tech startup's IPO on the cards
The UAE's vibrant initial public offering (IPO) market is poised to welcome a new player, as Cafu, a leading fuel delivery app, reportedly explores a stake sale that could mark its debut on the UAE's stock exchanges. According to Bloomberg, the startup, founded in 2018 by Emirati tech entrepreneur Rashid Al Ghurair, is in early discussions with Lazard Ltd. to facilitate the potential IPO. While no final decisions have been confirmed, the move underscores the UAE's growing appeal as a hub for diverse, tech-driven listings. Cafu's prospective IPO would add a digital tech dimension to the UAE's IPO landscape, which has traditionally been dominated by energy, real estate, and retail giants. Vijay Valecha, chief investment officer at Century Financial, noted, 'Cafu's market debut would diversify the UAE's IPO portfolio, showcasing the region's evolving startup ecosystem.' Since its inception, Cafu has set a benchmark for integrating traditional services into the digital space, inspiring new entrants in the Gulf's tech sector. Cafu had disrupted the fuel delivery market by offering petrol and diesel at pump-equivalent prices, with no markup. Initially launched with a modest delivery fee (ranging from Dh10 to Dh20), the company waived these charges during the pandemic to support customers. However, a recent circular announced the reintroduction of tiered delivery fees: Dh20 for priority delivery (within 20 minutes), Dh16 for standard delivery (30 minutes to two hours), and Dh12 for overnight orders (midnight to 6 a.m.). These changes reflect Cafu's efforts to balance profitability with customer affordability. Beyond fuel delivery, Cafu has expanded into mobile car washes, battery replacements, tyre changes, engine oil services, emergency rescues, and electric vehicle recharging. The company also caters to maritime clients, delivering fuel to boats and watercraft at select Dubai marinas. Its international footprint includes operations in Canada, signaling ambitions beyond the Gulf. Additional revenue streams come from third-party advertising and loyalty programs integrated into the app, further strengthening its financial model. For Lazard, which recently established a UAE office, advising Cafu's potential IPO could cement its foothold in a region where competitors like Rothschild have long held sway. A successful transaction would highlight Lazard's growing influence in the Gulf's competitive advisory market. The UAE's IPO market has seen a remarkable surge in recent years, driven by the country's economic diversification and robust investor appetite. In 2024, the Gulf region recorded its highest IPO volumes ever, with 53 listings raising $13.2 billion, according to a PwC report. The UAE alone accounted for 47 per cent of the region's proceeds, with seven IPOs, including Talabat Holding, Lulu Group, and NMDC Energy, generating $6.2 billion. This year, banking sources project up to eight UAE IPOs, potentially raising $10 billion, with companies like Etihad, Dubizzle, and in the pipeline. The first IPO of 2025, Alpha Data, has already set a strong tone. Cafu's potential listing aligns with the UAE's broader economic strategy to foster innovation and reduce reliance on oil. The Arab world's second-largest economy has attracted global investors with its business-friendly policies and dynamic capital markets. The Dubai Financial Market and Abu Dhabi Securities Exchange have become magnets for companies seeking to tap into the region's liquidity and growth potential. While details of Cafu's IPO—such as the stake size, valuation, and timeline—remain undisclosed, its entry into the public market could inspire other tech startups to follow suit.
The National
26-04-2025
- Automotive
- The National
UAE's IPO pipeline set for growth with potential Cafu stake sale
The UAE's initial public offering pipeline is set to become more diverse as Dubai-based fuel delivery start-up Cafu told Bloomberg that a stake stale is on the cards amid strong investor appetite for new listings in the Emirates. The fuel delivery and vehicle service company is looking to raise funds by selling a stake in the business for the first time, Bloomberg reported, quoting sources. The start-up is working with financial advisory and asset management firm Lazard for the IPO, but the discussions are at a preliminary stage, and no final decisions have been made, Bloomberg added. However, the company has not confirmed the exact details of the amount or the date of the IPO. Cafu has been delivering fuel to customers' doorsteps at the same price as petrol stations, without charging an extra markup. In recent years, it has also introduced an at-home car services package, which consists of on-demand battery, tyre change services, engine oil change, and emergency rescue services. The company was launched in Dubai in 2018 by entrepreneur Rashid Al Ghurair, who comes from one of Dubai's most prominent business families, and has operations in Oman and Egypt. Cafu charged basic delivery fees from 2018 until the start of the Covid-19 pandemic. However, since the pandemic, the company waived its delivery charges. But in a shift in its business model, the company said in a circular to clients on Thursday that it will reintroduce fuel delivery service charges. 'Keeping a service like this running, citywide 24/7, … takes a lot behind the scenes. We've absorbed those costs for as long as we could. Now to continue delivering the experience you rely on, we are reintroducing a small delivery fee,' the Cafu note said. The priority slab, which promises full delivery in 20 minutes, will be charged at Dh20 per delivery. Standard delivery, between 30 minutes and two hours, will be charged at Dh16. For overnight orders between 12am and 6am, a Dh12 fee will be applied, the note stated. 'The UAE's mega IPO bull wave will likely see another addition to its kitty. Interestingly, for Lazard, which has recently opened its office in the UAE, the transaction's success would mark its entry into the region, where its prolific competitors like Rothschild hugely dominate,' said Vijay Valecha, chief investment officer at Dubai investment company Century Financial. 'Apart from these revised slabs, the company has already earned revenue streams from multiple verticals introduced over the past few years. These include the battery, car wash, tyre change, engine oil replacement, and emergency rescue services. The app also allows for third-party partner advertisement, a likely advertisement and loyalty-related revenue stream for the company.' While Cafu is the leading fuel delivery operator in this region, globally, the space is dominated by a couple of players, Mr Valecha said. The latest market reports point to North America as the biggest market for this segment. The US is dominated by many apps, including Yoshi, Gaston, Ez Fill, Booster and Fuelster. Besides these start-ups, major American oil companies Shell and Mobil have introduced services in this segment, he added. The global on-demand fuel delivery market size is projected to touch $2.37 billion by 2033, recording a compound annual growth rate of 15.97 per cent from 2025 to 2033, according to market intelligence firm Business Research Insights. There has been a listings boom in the UAE in the past few years as the Arab world's second-largest economy continues to grow amid diversification efforts. There were seven IPOs across the UAE last year, including Talabat Holding, major retailer Lulu Group, ADNH Catering, NMDC Energy and Alef Education. IPOs in the UAE accounted for 47 per cent, or $6.2 billion, of total Gulf proceeds last year, PwC said in a report. Overall, 2024 saw the highest Gulf IPO volumes on record, with 53 listings across the region and a total of $13.2 billion raised, the report said. In 2021, the Dubai Financial Market unveiled an incentives programme to encourage new IPOs from private sector companies in key economic sectors that contribute to the country's gross domestic product. The incentives included financial support to the cost of listing on the bourse, post-listing support through participation in its international roadshows regionally and globally, and a three-year waiver on listing fees. The same year, Dubai revealed plans to list 10 government and state-owned companies on the DFM as part of a broader strategy to double the financial market's size to Dh3 trillion.
Zawya
25-04-2025
- Business
- Zawya
Dubai fuel delivery operator CAFU mulls stake sale
CAFU, the Dubai-based fuel delivery operator, is mulling a stake sale as the company looks to raise funds. According to a Bloomberg report, the fuel delivery service is reportedly collaborating with financial advisory and asset management firm Lazard, Inc for the stake sale. Lazard established its offices in Abu Dhabi, earlier this month in a bid to deepen its presence in the MENA region. Founded in 2018 by Emirati entrepreneur Rashid Al Ghurair, CAFU delivers fuel at gas station prices and has expanded to Canada. News of the stake sale came shortly after CAFU announced it was rolling out delivery charges, which had been suspended in the aftermath of COVID-19. Diverse IPO offering According to Vijay Valecha, Chief Investment Officer, Century Financial, a possible CAFU stake sale would bring a diverse offering to the UAE's IPO pipeline. 'For new entrants to the UAE and Gulf digital tech startup space, CAFU's business model idea has served as a benchmark for best integrating and evolving traditional business models into the new online and digital tech space,' Valecha said. Globally, CAFU's business model has served well in several countries, with Valecha calling North America as the biggest market for this segment with services including Yoshi, Gaston, Ez Fill, Booster & Fuelster, along with American oil companies Shell and Mobil having also introduced their services in this segment. For the UAE, a possible listing by CAFU tracks with analyst data that have pointed out a growing theme around technology in the short to mid-term IPO pipeline. (Writing by Bindu Rai, editing by Seban Scaria)
