Egypt’s Breadfast secured $50M in a pre-Series C round to scale infrastructure, expand across Africa, and advance long-term IPO ambitions.
Egypt-based e-grocery platform Breadfast has secured $50 million in a pre-Series C funding round, as it gears up for regional expansion and a larger Series C raise planned for the first half of 2026.
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The round attracted a mix of regional and international investors, including Mubadala Investment Company, the International Finance Corporation (IFC), and Olayan Financing Company. Additional participants included SBI Investment, Y Combinator, Novastar Ventures, 4DX Ventures, and the European Bank for Reconstruction and Development (EBRD).
Breadfast said the new capital will be used to expand its infrastructure, strengthen operational capabilities, and explore entry into North and West African markets. The strategy reflects its ambition to evolve from a domestic e-grocery operator into a multi-country digital commerce platform.
Founded in 2017 by Mostafa Amin, Muhammed Habib, and Abdallah Nofal, Breadfast began as a fresh bread delivery service before expanding into groceries, ready meals, and household essentials. The platform has since added pharmaceuticals and financial services to its offering.
Breadfast operates a vertically integrated model spanning sourcing, production, fulfilment, and last-mile delivery — a structure designed to protect margins and improve service reliability. Private-label products now account for approximately 40% of grocery sales, strengthening profitability and brand differentiation.
The company is targeting up to 3% of Egypt’s $100 billion grocery market within three years, positioning itself as a major player in one of the region’s largest consumer sectors.
Beyond commerce, Breadfast has expanded into fintech, introducing prepaid and payment services aimed at increasing customer retention and diversifying revenue streams.
CEO Mostafa Amin told Bloomberg that the company has begun early discussions with growth investors ahead of its planned Series C round. He added that Breadfast’s long-term objective is a global public listing.
With fresh capital, a vertically integrated model, and cross-border ambitions, Breadfast is positioning itself as one of Africa’s most scalable commerce platforms as it prepares for its next funding milestone and eventual IPO.
Why Breadfast Expansion Matters to MENA
Breadfast’s funding signals something bigger than another e-grocery funding round; it reflects a renewed push toward scalable, infrastructure-led commerce models in Africa and the wider MENA region.
At a time when venture capital is more selective, the backing of major institutional investors such as Mubadala, IFC, and EBRD suggests growing confidence in platforms with clear paths to operational efficiency and market share dominance. Breadfast is a vertically integrated model, spanning sourcing to last-mile delivery, which positions it differently from asset-light marketplace competitors.
The company’s expansion into fintech also reflects a broader regional trend: commerce platforms are increasingly layering financial services to deepen customer engagement and improve margins.
If successful, Breadfast’s regional expansion could mark a shift from single-market e-grocery operators to pan-African digital commerce infrastructure players, with IPO ambitions that signal maturing capital markets and stronger exit pathways for African tech.
