McWin Capital Partners has made a strategic investment in Incapto, a coffee-as-a-service platform targeting both households and businesses.

Founded in 2020, Incapto combines in-house roasting, IoT-enabled bean-to-cup machines and a subscription model to offer an alternative to single-use coffee capsules.

Through its McWin Food Tech Fund I, the firm is investing €5 million as lead investor in Incapto’s €10 million Series B round. McWin said the deal reflects its focus on backing scalable food tech businesses with recurring revenue models and a clear path to profitability, with Incapto set to join its growing portfolio.

The round also includes new co-investors Cardumen Capital and Lever VC, alongside existing backers Banc Sabadell, P101, A3 Media and JME.

McWin said the investment aligns with its strategy to support growth-stage food tech companies focused on sustainability and scalable business models. Incapto’s recurring revenue structure and path to profitability were cited as key factors behind the deal.

Martin Davalos, partner and head of food tech at McWin Capital Partners, said: “At McWin, we are committed to backing high-growth companies that deliver not only exceptional financial results but also sustainable and scalable solutions".

"Our foodservice strategy has enabled us to support brands in successfully expanding across various European markets including Spain. However, this marks the first investment in Spain under our Food Tech strategy, representing a significant milestone for McWin. Incapto’s innovative platform is closely aligned with our mission to drive transformative progress in the food sector, and we are excited to contribute to the company’s next stage of growth.”

As part of the partnership, McWin will support Incapto’s growth through its network of quick-service restaurant and foodservice operators, with potential to expand the platform across new locations in multiple markets.

Incapto plans to expand internationally into France, Portugal and other markets in 2026, targeting rising demand for more sustainable coffee solutions. The company reports more than 20,000 active subscribers in its B2C segment, with coffee-only subscriptions achieving a 98% revenue retention rate after two years and an LTV/CAC ratio of up to 5x.

Joaquim Mach, co-founder and co-CEO of Incapto, said McWin’s “unparalleled expertise in the food industry” and shared focus on building a sustainable food ecosystem make it “the ideal partner” for the company’s next phase of growth.