Mubadala Investment Company Invests $50 Million in Egyptian E-Grocery Startup Breadfast

The UAE’s Mubadala Investment Company made an investment in Cairo-based startup Breadfast on 17 February 2026, as the rapidly growing e-grocery and delivery platform prepares for a global Initial Public Offering (IPO).

Mubadala joined a USD 50 million (EGP 2 billion) pre-Series C funding round, an advanced stage of startup financing aimed at scaling operations and preparing for larger growth milestones, alongside investors including Saudi Arabia’s Olayan Financing Company, SBI Investment Co., and the World Bank’s International Finance Corporation (IFC).

This stream of capital is intended to enhance Breadfast’s infrastructure across Egypt by expanding its network of warehouses, fulfillment centres, and production facilities, while also supporting the company’s long-term strategy to explore expansion into select North and West African markets as part of its broader regional growth plans. 

Founded in 2017 by entrepreneurs Mostafa Amin, Mohamed Habib, and Abdullah Noufal, Breadfast transitioned from a bread delivery service to a comprehensive app that offers groceries, ready-to-eat meals, medicinal products, and digital payment solutions. 

The company aims to capture up to 3 percent of Egypt’s expansive USD 100 billion (EGP 4.7 trillion) grocery market within the next three years.

The recently secured funds will primarily focus on improving operational efficiency and exploring entry into high-potential North and West African markets. 

According to CEO Mostafa Amin, the company is already in preliminary discussions with growth investors ahead of a planned larger Series C round scheduled for the first half of 2026.

Significantly, private-label brands currently account for about 40 percent of Breadfast’s grocery sales, a clear indication of its innovative approach and market strategy. 

Breadfast was recently valued at nearly USD 400 million (EGP 18 billion) in late 2025, positioning it as a scalable digital commerce platform within the region. 

With the backing of prominent investors and a clear expansion strategy, the company is setting the stage for its long-term vision of a global public listing.