News
Breadfast raises $50 million Pre-Series C from Mubadala, SBI and Olayan
Egyptian grocery and delivery platform Breadfast has raised $50 million in a Pre-Series C round, with Mubadala, SBI Investment and Olayan Financing Company among the backers.
By Propel Africa · 2026-02-16
Breadfast, the Egyptian delivery and e-commerce company, has raised $50 million in a Pre-Series C round, Wamda reported on 16 February. Backers include Mubadala Investment Company, SBI Investment of Japan and Olayan Financing Company, alongside other venture capital and institutional investors that were not named.
From bread rounds to a full platform
Breadfast started out delivering fresh bread. It is now a vertically integrated e-commerce platform selling groceries, pharmaceuticals, payment services, private-label products and branded coffee shops, and it controls a significant part of its own supply chain. Mostafa Amin, Muhammad Habib and Abdallah Nofal founded the company in Cairo in 2017.
Traction and targets
Private-label products make up about 40% of Breadfast's grocery sales. The company aims to capture up to 3% of Egypt's estimated $100 billion grocery market within three years. Wamda notes that it was reportedly valued at nearly $400 million in August 2025.
What the money is for
The Pre-Series C comes ahead of a larger Series C that is expected in the first half of 2026. The new capital will go towards expanding infrastructure, strengthening logistics and exploring entry into new African markets.
At a glance
- Company: Breadfast
- Raised: $50 million
- Round: Pre-Series C
- Investors: Mubadala Investment Company, SBI Investment, Olayan Financing Company and others
- Founded: 2017, in Cairo
- Markets: Egypt, with plans to explore other African markets
- Key number: Private-label products are about 40% of grocery sales