Egyptian e-commerce and quick-commerce platform Breadfast has secured $50 million in a pre-Series C funding round, strengthening its balance sheet as it accelerates expansion plans across Africa and positions for a future public listing.
The round was backed by a strong mix of global and regional investors, including Mubadala Investment Company, International Finance Corporation, Olayan Financing Company, SBI Investment, European Bank for Reconstruction and Development, Y Combinator, Novastar Ventures, 4DX Ventures, AAIC Investment, alongside a Saudi billionaire family.
The company plans to follow up with a larger Series C round in the first half of 2026. Chief executive Mostafa Amin said Breadfast has already begun early-stage discussions with growth investors ahead of the raise. The startup was valued at about $400 million in August 2025, with the latest funding expected to lift that valuation.
Breadfast said proceeds from the round will be deployed to scale its infrastructure footprint, including new warehouses, fulfilment centres and production facilities, while strengthening its logistics network. The company will also explore expansion into new markets in North and West Africa as it works toward a potential global IPO.
Founded in Cairo in 2017 by Mostafa Amin, Muhammad Habib and Abdallah Nofal, Breadfast started as a fresh bread delivery service before evolving into a vertically integrated platform. Today, it offers groceries, pharmaceuticals, digital payments, private-label food products and branded coffee outlets. Private-label items now account for about 40% of its grocery sales.
The company is targeting up to 3% of Egypt’s estimated $100 billion grocery market within the next three years, underscoring its ambition to become a dominant player in the country’s fast-growing digital commerce space.
As part of the deal, the European Bank for Reconstruction and Development will invest up to $10 million in equity, alongside a digital training and career development programme covering management, technology and customer service roles—aimed at strengthening Breadfast’s organisational capacity as it scales.
