Grace Ashiru
Egyptian e-commerce platform Breadfast has raised $50 million in a pre-Series C funding round backed by Mubadala Investment Company, the World Bank’s International Finance Corporation, Saudi Arabia’s Olayan Financing Company, Japan’s SBI Investment, the European Bank for Reconstruction and Development, Y Combinator, Novastar Ventures, 4DX Ventures, and AAIC Investment, alongside a Saudi billionaire family.
The company plans to raise a larger Series C in the first half of 2026. CEO Mostafa Amin confirmed the company is in early discussions with growth investors ahead of that round. Breadfast was valued at approximately $400 million in August 2025, with the latest round expected to increase that figure.
Proceeds will fund infrastructure expansion — including warehouses, fulfillment centers, and production facilities — strengthen logistics capabilities, and support exploration of new markets in North and West Africa. The company is also positioning toward a potential global IPO.
Founded in Cairo in 2017 by Mostafa Amin, Muhammad Habib, and Abdallah Nofal, Breadfast began as a fresh bread delivery service and has expanded into a vertically integrated platform offering groceries, pharmaceuticals, digital payments, private-label products, and branded coffee outlets. Private-label products account for approximately 40% of its grocery sales. The company targets capturing up to 3% of Egypt’s estimated $100 billion grocery market within three years.
The EBRD’s participation — an equity investment of up to $10 million — includes a digital training and career development component covering management, technology, and customer service roles.
