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Arab Finance: Egypt-based e-commerce platform Breadfast has raised $50 million in a pre-Series C funding round as it prepares for a larger Series C round expected in the first half (H1) of 2026.
Proceeds from the pre-Series C round will be used to expand infrastructure, strengthen logistics capabilities, and explore entry into new African markets, as Breadfast works toward long-term growth and a potential global initial public offering (IPO).
The round was backed by Mubadala Investment Co., a Saudi billionaire family, Japan’s SBI Investment Co., and Olayan Financing Company, alongside venture capital and institutional investors. Breadfast was reportedly valued at nearly $400 million in August 2025, with the latest round expected to increase its valuation.
Founded in Cairo in 2017 by Mostafa Amin, Muhammad Habib, and Abdallah Nofal, Breadfast started as a fresh bread delivery service before expanding into a vertically integrated e-commerce platform. T
The company now offers groceries, pharmaceuticals, payment services, private-label products, and branded coffee shops, while controlling a significant portion of its supply chain to support margin management and operational efficiency.
Private-label products account for around 40% of Breadfast’s grocery sales, contributing to pricing control and profitability.
The company is targeting up to 3% of Egypt’s estimated $100 billion grocery market within three years.
