Breadfast Attracts EBRD Funding Of $10 Million

The  Egyptian on-line grocery provide platform, Breadfast, has secured a USD 10 million (EGP 483.4 million) funding from the European Monetary establishment for Reconstruction and Enchancment (EBRD), as part of its ongoing Sequence B2 funding spherical, bringing the company’s valuation to simply about USD 400 million (EGP 19.3 billion).

The capital, led by Novastar Ventures, a Kenyan enterprise capital agency focused on early and growth-stage corporations in East and West Africa, will assist the company’s residence enlargement, with plans to add achievement amenities in important cities just like Cairo, Giza, Alexandria, and Mansoura, whereas laying the groundwork for operations in new markets all through Egypt. With this latest capital injection, the company’s estimated valuation has climbed from USD 268 million (EGP 12.9 billion) in 2024 to roughly USD 382.3 million (EGP 18.5 billion) in 2025.

Together with geographic progress, the EBRD’s funds will help Breadfast improve its in-house know-how and broaden private-label merchandise to boost margins and preserve price-competitive. The enlargement is anticipated to create many roles all through achievement and operations, supported by teaching in digital skills, logistics, and administration.

Primarily based in 2017 by entrepreneurs Mostafa Amin, Abdullah Nofal, and Muhammad Habib, Breadfast has transitioned from a small-scale bakery provide service to a very built-in quick-commerce platform. Instantly, the company delivers over 6,000 merchandise, along with perishables, packaged gadgets, and household requirements, in beneath 60 minutes.

Swedish funding company Vostok New Ventures (VNV), an early backer of Breadfast, exemplifies investor confidence in Breadfast’s trajectory. In its second-quarter 2025 earnings report, VNV reported that the value of its 7.9 p.c stake has virtually doubled to USD 30.2 million (EGP 1.5 billion) since its preliminary 2021 funding of USD 16.9 million (EGP 817 million).

Central to Breadfast’s approach is its end-to-end administration of the availability chain, encompassing each little factor from in-house bakeries and sourcing to darkish retailers and a loyal provide fleet, which is an methodology that has enabled it to take care of the sophisticated logistics of rising markets.

As of mid-2025, Breadfast manages larger than 30 achievement amenities, fulfills virtually one million orders month-to-month, and boasts a purchaser base exceeding 300,000 energetic clients. In 2024, the company recorded over USD 150 million (EGP 7.25 billion) in annual recurring earnings and maintained a purchaser retention charge above 80 p.c.