- Breadfast secures $50 million in pre-Series C funding.
- Mubadala, SBI and EBRD among investors; EBRD invests up to $10 million.
- Company aims to expand nationwide and target 3% of Egypt’s $100 billion food market.
Egyptian online grocery platform Breadfast announced on February 18 that it has raised $50 million in a pre-Series C funding round.
The round brought together Mubadala Investment Company, SBI Investment, Olayan Financing Company and other institutional investors, including the European Bank for Reconstruction and Development (EBRD), which invested up to $10 million in equity.
The new capital will support the company’s expansion across Egypt and strengthen its financial structure. Breadfast plans to expand its network of warehouses, distribution centers and production facilities, while increasing its order-processing capacity.
The funding will also support the company’s long-term regional growth strategy and its planned initial public offering.
An Integrated Model in a $100 Billion Market
Founded in 2017, Breadfast began as a bread delivery service before expanding into groceries, over-the-counter medicines, payment solutions and private-label products. The company operates an integrated model combining sourcing, storage and delivery.
Private-label products account for about 40% of grocery revenue, helping improve margins and strengthen control over the value chain. Breadfast aims to capture up to 3% of Egypt’s food market, estimated at nearly $100 billion, within the next three years.
The funding comes as the company prepares a Series C round scheduled for the first half of 2026.
