Egyptian online grocery delivery platform Breadfast has raised $10 million in its Series B2 funding round, led by the European Bank for Reconstruction and Development (EBRD) and Novastar Ventures. This investment brings the company’s valuation to approximately $382–400 million, reflecting strong investor confidence in its growth trajectory.
Founded in 2017 by Mostafa Amin, Muhammed Habib, and Abdallah Nofal, Breadfast began as a baked goods delivery service before expanding into groceries and household essentials. The new funding will support the rollout of fulfillment centers in Cairo, Giza, Alexandria, and Mansoura, with plans to enter additional cities.
The Series B2 funding will enable Breadfast to scale its operations, enhance its proprietary technology, and increase its private-label product offerings. This strategic move aims to strengthen the company’s market position and improve margins.
The EBRD’s investment aligns with its mission to promote competitive and inclusive economies. According to the bank’s project summary, the funding will support Breadfast’s expansion, proprietary technology upgrades, and an increase in private-label product offerings, enhancing margins and market differentiation.
With this new capital, Breadfast plans to expand its fulfillment network, strengthen its cross-border infrastructure, and continue its evolution into a technology-first logistics company. The company’s vision is to transform e-commerce logistics into a growth engine for retailers, providing smarter, more efficient supply chain operations.
Breadfast’s commitment to innovation and efficiency positions it as a key player in the regional e-commerce logistics sector, poised for continued growth and success.
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