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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, and Saudi Arabia’s Olayan Financing Company.
The funding is also backed by 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.
According to Africa Tech, the company plans to raise a larger Series C in the first half of 2026.
Chief Executive Officer Mostafa Amin confirmed the company was 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 percent of its grocery sales.
The company targets capturing up to 3 percent 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.
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