Breadfast bags $10 million from EBRD, nears $400 million valuation
The funding pushes Breadfast's valuation to approximately $382–400 million, reflecting strong investor confidence in its growth trajectory.
Founded in 2017 by Mostafa Amin, Muhammad Habib and Abdallah Nofal, Breadfast offers on-demand delivery of groceries and other household essentials, having initially started its business with a focus on baked goods.
The new capital will support the expansion of fulfilment centres across Cairo, Giza, Alexandria, and Mansoura and allow access to new Egyptian cities.
Breadfast is also ramping up its fintech arm, Breadfast Pay, offering customers enhanced services such as savings, withdrawals, and branded payment cards—key to building a broader super-app experience.
Press release:
Breadfast, Egypt's market-leading online grocery delivery platform, has raised $10 million in a Series B2 funding round from the European Bank for Reconstruction and Development (EBRD), in partnership with Novastar Ventures. This latest funding places Breadfast's valuation at an impressive $382–400 million, underscoring strong investor confidence in its business model and growth potential.
The investment will accelerate Breadfast's ambition to extend its fulfilment network, increasing capacity in core cities—Cairo, Giza, Alexandria, and Mansoura—and expanding into new markets. The success of Breadfast reflects its vertically integrated model, managing everything from quality control in baking to last-mile delivery, thus enabling rapid, reliable service.
Now handling nearly 1 million orders per month for over 300,000 active users, with revenues surpassing $150 million in 2024, Breadfast is emerging not only as a quick-commerce leader but also as a growing fintech player through its Breadfast Pay offering.
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Breadfast, Egypt's quick-commerce grocery app, has raised $10 million from the European Bank for Reconstruction and Development (EBRD) as part of its Series B2 financing, led by Novastar Ventures. The funding pushes Breadfast's valuation to approximately $382–400 million, reflecting strong investor confidence in its growth trajectory. Founded in 2017 by Mostafa Amin, Muhammad Habib and Abdallah Nofal, Breadfast offers on-demand delivery of groceries and other household essentials, having initially started its business with a focus on baked goods. The new capital will support the expansion of fulfilment centres across Cairo, Giza, Alexandria, and Mansoura and allow access to new Egyptian cities. Breadfast is also ramping up its fintech arm, Breadfast Pay, offering customers enhanced services such as savings, withdrawals, and branded payment cards—key to building a broader super-app experience. Press release: Breadfast, Egypt's market-leading online grocery delivery platform, has raised $10 million in a Series B2 funding round from the European Bank for Reconstruction and Development (EBRD), in partnership with Novastar Ventures. This latest funding places Breadfast's valuation at an impressive $382–400 million, underscoring strong investor confidence in its business model and growth potential. The investment will accelerate Breadfast's ambition to extend its fulfilment network, increasing capacity in core cities—Cairo, Giza, Alexandria, and Mansoura—and expanding into new markets. The success of Breadfast reflects its vertically integrated model, managing everything from quality control in baking to last-mile delivery, thus enabling rapid, reliable service. Now handling nearly 1 million orders per month for over 300,000 active users, with revenues surpassing $150 million in 2024, Breadfast is emerging not only as a quick-commerce leader but also as a growing fintech player through its Breadfast Pay offering.
