Egyptian e-commerce startup Breadfast raises $50m pre-Series C funding

Egyptian e-commerce platform Breadfast has raised US$50 million in a pre-Series C funding round as it advances plans for an initial public offering (IPO). Founded in 2017 by Mostafa Amin, Muhammad Habib and Abdallah Nofal, the startup began as a baker but now offers on-demand delivery of groceries and household essentials. The new round follows a US$10 million Series B2 injection from the European Bank for Reconstruction and Development (EBRD) reported in August, which was led by Novastar Ventures.

"Passionate about the vibrant tech startups scene in Africa, Tom can usually be found sniffing out the continent's most exciting new companies and entrepreneurs, funding rounds and any other developments within the growing ecosystem," said Tom Jackson, the Disrupt Africa reporter who covered the deal.

Details of the round and strategic moves

The US$50 million pre-Series C round was backed by a mix of sovereign and private investors, including Mubadala Investment Co., a Saudi billionaire family, Japan’s SBI Investment Co., and Olayan Financing Company, alongside other venture capital and institutional investors. Breadfast announced the funding as it scales operations and prepares for a larger Series C round planned for the first half of 2026.

In October the company launched a fintech arm, Breadfast Pay, a move Disrupt Africa described as "signalling a strategic push to build a super-app for Egyptian households." Proceeds from the current financing will be allocated to expanding infrastructure, strengthening logistics capabilities, and exploring entry into new African markets.

Background and growth trajectory

• Founders: Mostafa Amin, Muhammad Habib and Abdallah Nofal.
• Founded: 2017, originally focused on baked goods.
• Core services: On-demand delivery of groceries and household essentials.
• Recent prior financing: US$10 million from the EBRD as part of Series B2, led by Novastar Ventures.
• New funding: US$50 million pre-Series C backed by Mubadala Investment Co., a Saudi billionaire family, SBI Investment Co., Olayan Financing Company, and other investors.

Breadfast’s trajectory—moving from a bakery-delivery model to a broader grocery and household essentials service, while adding fintech capabilities—illustrates its ambition to deepen engagement with Egyptian households and broaden its product and service stack ahead of public listing preparations.

Outlook

The company has signalled an intent to pursue a larger Series C in H1 2026 and is positioning itself for an eventual IPO. With the fresh capital earmarked for logistics and infrastructure expansion and plans to test entry into new African markets, Breadfast is laying groundwork to scale regionally while continuing to build out its Breadfast Pay fintech offering.