Pickup Coffee

About Pickup Coffee

Pickup Coffee is a Philippine-based coffee company that entered the market in February 2022, quickly establishing a significant presence in the quick-service beverage sector. The company was founded by Diego Lorenzo, Jaime González Fernández, Bien Lee, and Miguel Macaalay, who collectively identified a gap in the market for high-quality, affordable coffee. CEO Diego Lorenzo, leveraging his family's background in the F&B industry and his own experience in finance and private equity, was inspired by successful tech-enabled coffee models in other parts of Asia and saw an opportunity to innovate for the Filipino consumer. The founding team combines diverse expertise: Jaime González Fernández has a background in aerospace engineering, an MBA from Harvard, and experience in venture capital and real estate; Bien Lee specializes in marketing; and Miguel Macaalay brings extensive experience in operations and business management.

The company's business model is centered on a "grab-and-go" concept, prioritizing accessibility, speed, and affordability to cater to a broad demographic of busy professionals, students, and budget-conscious consumers. Revenue is generated primarily through the sale of its beverages and food items. By optimizing for takeout and delivery, utilizing compact store formats like carts and cloud kitchens, and minimizing operating costs, Pickup Coffee is able to offer its products at a disruptive price point, with most beverages priced between PHP 50 and PHP 100 (approximately $0.90 to $1.80). This strategy has allowed it to undercut competitors and rapidly gain market share. The company operates through its physical locations, a proprietary mobile app for ordering and loyalty programs, and partnerships with third-party delivery aggregators like GrabFood and Foodpanda.

Pickup Coffee’s core product offering consists of espresso-based and milk-based beverages made from 100% Arabica beans, some of which are sourced locally in the Philippines. The menu is designed to appeal to the Filipino palate and includes classic coffee drinks, signature creations like the Avo Latte, and non-coffee options such as teas and milk-based drinks. In addition to beverages, the company offers a selection of ready-to-eat snacks called "Pickup Bites". A key selling point is the combination of quality ingredients and preparation with prices significantly lower than those of established international coffee chains. The company has demonstrated rapid growth, expanding to over 350 branches across the Philippines and entering the international market with its first branch in Mexico in December 2023. This expansion was fueled by significant investor confidence, highlighted by a Series A funding round in April 2023 that raised approximately $40 million and valued the company at $130 million.