Cairo-based quick-commerce platform Breadfast has successfully closed a $50 million pre-Series C funding round, attracting significant investment from prominent global and regional players. The round was backed by Abu Dhabi's Mubadala Investment Company, Saudi Arabia's Olayan Financing Company, and Japan's SBI Investment, among others. This capital injection is earmarked to fuel the company's infrastructure expansion and potential entry into new African markets ahead of a planned Series C round.
From Bakery to E-Commerce Powerhouse
Founded in 2017 by Mostafa Amin, Muhammad Habib, and Abdallah Nofal, Breadfast began its journey by delivering fresh bread to customers in Cairo. The company has since transformed into a comprehensive e-commerce ecosystem offering a wide array of services. Its platform now includes groceries, pharmaceuticals, ready-made meals, a fintech arm called Breadfast Pay, and even its own branded coffee shops.
Today, Breadfast operates a robust network of 39 fulfillment centers across four Egyptian cities, processing nearly one million orders per month. Serving over 300,000 active users, the platform promises delivery of more than 6,000 different products in under an hour. This operational scale demonstrates its significant footprint and deep penetration within the Egyptian market, solidifying its position as a leading player.
A Vertically Integrated Strategy
A key element of Breadfast's success is its vertically integrated business model, which gives it control over much of its supply chain. This approach extends to producing its own private-label goods, which now account for approximately 40% of its grocery sales. Such control allows for stronger margin management, competitive pricing, and enhanced operational efficiency, setting it apart from competitors.
This strategic model has yielded impressive results, attracting strong investor confidence and a valuation approaching $400 million in mid-2025. Investor VNV Global highlighted the company's dollar-based gross merchandise value retention of over 100% after twenty months. This metric signals exceptional customer loyalty and a clear, credible path toward achieving sustainable profitability in the near future.
Fueling Ambitious Expansion Plans
The newly secured $50 million will be instrumental in executing Breadfast's ambitious growth strategy. The company plans to allocate the proceeds toward expanding its physical infrastructure and further scaling its advanced logistics capabilities. A significant portion of the funding is also designated for exploring strategic entry into new markets across North and West Africa.
Looking ahead, CEO Mostafa Amin has outlined a clear long-term vision for the company, with plans for a larger Series C round in the first half of 2026. The company aims to capture up to 3% of Egypt's $100 billion grocery market within three years. Ultimately, the goal is to position Breadfast for a global initial public offering, becoming a multibillion-dollar asset from the continent.
Attracting Global and Regional Capital
The composition of investors in this round underscores the growing international confidence in Egypt's technology sector. The funding brings together capital from the Gulf, Asia, and prominent development finance institutions like the World Bank's IFC. This diverse backing reflects a strong belief in Breadfast's business model and its potential for regional dominance in the e-commerce space.
Breadfast's latest $50 million funding round marks a pivotal moment in its journey, providing the necessary capital to solidify its leadership in Egypt and pursue pan-African growth. With a proven vertically integrated model, strong customer loyalty, and the backing of influential global investors, the company is well-positioned for its next phase of expansion. This strategic investment not only validates Breadfast's vision but also signals its emergence as a formidable force in Africa's digital economy.