Abu Dhabi’s sovereign investor Mubadala Investment Company has placed a calculated bet on Egypt’s fast-scaling grocery disruptor Breadfast, joining a $50 million pre-Series C funding round that signals bigger ambitions ahead.
The Cairo-based startup, which began life in 2017 delivering fresh loaves to doorsteps, has since reinvented itself as a multi-service digital marketplace. Today, Breadfast’s app moves far more than bread — groceries, pharmacy items, coffee and even digital payment services now travel through its ecosystem.
The funding round drew heavyweight participation. Alongside Mubadala were Saudi Arabia’s Olayan Financing Company, Japan-backed SBI Investment Co, and the International Finance Corporation, the private-sector arm of the World Bank.
The capital injection is earmarked for muscle, not marketing. Breadfast plans to expand its warehouse footprint, upgrade production capabilities, and deepen its reach across African markets. Executives are also lining up a larger Series C round in the first half of the year, positioning the company for what it describes as a global initial public offering.
By late 2025, Breadfast’s valuation hovered near the $400 million mark — a reflection of investor appetite for tech-enabled consumer platforms in North Africa. With fresh backing from Abu Dhabi and global financiers, the company now appears to be shifting from startup sprint to IPO marathon.
