Breadfast Raises $50 Million in Pre-Series C Round to Fuel Regional Expansion and Prepare for IPO
Egyptian online grocery platform Breadfast has successfully closed a USD 50 million Pre-Series C funding round, aimed at strengthening its infrastructure and accelerating regional expansion, ahead of a larger Series C round expected in the first half of 2026. The company also reaffirmed its long-term ambition to pursue a global initial public offering.
The round attracted a mix of regional and international investors, including Mubadala Investment Company, International Finance Corporation, Olayan Financing Company, SBI Investment, Y Combinator, Novastar Ventures, 4DX Ventures, and the European Bank for Reconstruction and Development.
Proceeds from the round will be used to scale operational capacity, enhance efficiency, and evaluate entry into North and West African markets, supporting Breadfast’s transition into a multi-country digital commerce platform.
Founded in 2017 by Mostafa Amin, Mohamed Habib, and Abdullah Noufel, Breadfast began as a fresh bread delivery service before expanding into groceries, ready-to-eat meals, household essentials, pharmaceutical products, and financial services. The company operates a vertically integrated model covering sourcing, production, fulfillment, and last-mile delivery, helping protect margins while maintaining service quality.
Private-label products account for around 40% of grocery sales, and the company aims to capture up to 3% of Egypt’s $100 billion grocery market within the next three years.
In comments to Bloomberg, CEO Mostafa Amin confirmed early discussions with growth-stage investors ahead of the upcoming Series C, reiterating that a global IPO remains the company’s long-term strategic objective.