The Egyptian online grocery delivery platform, Breadfast, has secured a USD 10 million (EGP 483.4 million) investment from the European Bank for Reconstruction and Development (EBRD), as part of its ongoing Series B2 funding round, bringing the company’s valuation to nearly USD 400 million (EGP 19.3 billion). The capital, led by Novastar Ventures, a Kenyan venture capital company focused on early and growth-stage businesses in East and West Africa, will support the company’s domestic expansion, with plans to add fulfillment centers in major cities such as Cairo, Giza, Alexandria, and Mansoura, while laying the groundwork for operations in new markets across Egypt. With this latest capital injection, the company’s estimated valuation has climbed from USD 268 million (EGP 12.9 billion) in 2024 to approximately USD 382.3 million (EGP 18.5 billion) in 2025. In addition to geographic growth, the EBRD’s funds will help Breadfast improve its in-house technology and expand private-label products to boost margins and stay price-competitive. The expansion is expected to create many jobs across fulfillment and operations, supported by training in digital skills, logistics, and management. Founded in 2017 by entrepreneurs Mostafa Amin, Abdullah Nofal, and Muhammad Habib,…
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